Ahmedabad : A 38-year-old businessman from Gandhinagar was allegedly cheated out of Rs 30 lakh after being offered a 6% stake in two companies dealing in chaat products. In his complaint filed with the Detection of Crime Branch on Sunday, the businessman stated that in Dec 2022, he was introduced to promoters of the companies.
He was allegedly told that the companies had a valuation of Rs 10 crore each and that he would be given a 3% stake in each company if he invested Rs 30 lakh. After an agreement, the complainant transferred Rs 15 lakh through RTGS in Jan 2023 and another Rs 11.9 lakh in Feb that year. He allegedly paid the remaining Rs 3.2 lakh in cash at the company’s Kathwada office. He told police the companies had projected rapid growth and a target of Rs 100 crore turnover within five years. However, a monthly report sent to him in March 2023 showed a loss of around Rs 77 lakh. The companies continued sending monthly reports until Aug 2023, after which communication stopped.
It also stated that production had halted due to technical issues. The businessman was given the share certificate of only one company. When the complainant visited the Kathwada premises, he allegedly found the unit shut. Repeated demands for repayment allegedly went unanswered, with the accused claiming that the company was no longer operational and that they had no money to repay him.
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