Mangalore: Firm accused of cheating agents, clients, FIR lodged


Pics: Ramesh Pandith
Daijiworld Media Network - Mangalore

Mangalore, Aug 25: A female agent of Vraksha Business Solutions Ltd, Mangalore on Monday August 25 lodged a complaint with the police commissioner stating that as an official agent, she collected money from various individuals according to the company's policy for investment, but now the company has betrayed her and her clients by not paying them back as promised.

The agent who identified herself as Pramodhini G Shetty of Jeppu wrote a complaint letter to the police commissioner, Mangalore division and submitted it through Tulunadu Rakshana Vedike. As the police commissioner was unavailable, the complaint was submitted to the deputy police commissioner.

The letter states that the agent collected nearly 8 lacs from many individuals and gave it to the company. Documents supporting this claim are in her possession, she stated in the letter.

The complaint further states that the company had promised to return the money by May 31. "When the complany failed to return the due amount on the promised date, we went to its office to demand the money, to which the company officials assured to pay by August 6 saying that they were facing financial hurdles. On that day, the company had collected the bank account numbers of investors and promised to return their money at the earliest. However, the company has failed to stand by its words," the letter further states.

The letter includes names of individuals who invested the money in the company along with the amount of money invested.

Sources said that not just Pramodhini, but many other agents and clients of the firm are facing the same ordeal.

Based on Pramodhini's complaint, Bunder police have lodged a case under sections 406, 417, 418, and 420 of IPC. Further investigations are on.

Attempts to reach the company officials failed, as the numbers listed in the company's website are either not existing or out of network coverage.

  

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Comment on this article

  • ramya, Shaktinagar

    Mon, Sep 29 2014

    Who is the owner of this business

    DisAgree Agree [1] Reply Report Abuse

  • BHASKAR SHETTY, MANGALORE

    Tue, Aug 26 2014

    kurigalu sir navu kurigalu

    DisAgree Agree Reply Report Abuse

  • akshtha, mangalore

    Tue, Aug 26 2014

    Guys, than accusing the lady who logged complain be thankful to her. At least she has moved a stp forward and her raised her voice wherein so many are still sittin behind and watching the show...if the lady was really worried abot the commission she wouldn't hve been showing up here n geting herslf in these risky deals...
    And talkn abt vraksha, this company has cheated soo many people...strict actions must b taken n the frauds has to punished severly ....n thank you rakshana vedhike fo ua alwaz suport....becauze of ual people can stl hope for justice
    Doing good people ...thank you

    DisAgree Agree [5] Reply Report Abuse

  • stanley, mangalore/mumbai

    Tue, Aug 26 2014

    everybody knows this type of companies are cheating but still people are investing why u dont have nationalised banks nearby u , postal schemes, provident fund and lic u invest in these schemes dont invest u hard earned money on private investment u will lose principal and interest also, by the greed of more interest dont invest in private investment like private loans, plantation schemes, network marketing schemes all risky investments u may lose money.

    DisAgree Agree [2] Reply Report Abuse

  • Aubb, Kuwait

    Mon, Aug 25 2014


    Coastal region has become a breeding ground for all kind of financial frauds, criminal and anti-social activities for quite sometime.

    People need to be cautious while investing in lesser known companies that are mushrooming here for the sole purpose of cheating the public.

    DisAgree Agree [6] Reply Report Abuse

  • HubertD'souza, Mangalore Dubai

    Mon, Aug 25 2014

    Cheque Also 420, Fir Also Lodged IPC 420.

    DisAgree Agree [4] Reply Report Abuse

  • Rudolf, Mumbai

    Mon, Aug 25 2014

    Ooops, BTW what happened to EUROGOLD???

    DisAgree Agree [4] Reply Report Abuse

  • jossy dsouza, thokkottu mangalore

    Mon, Aug 25 2014

    SECRET OF GROWTH....DON'T BELIEVE ANYBODY IN THIS WORLD TODAY...

    DisAgree Agree [3] Reply Report Abuse

  • Sathurine Fernandes, udupi

    Mon, Aug 25 2014

    Many investment companies giving false promises, and investors are also hungry for extra income and investing based on the Sweet Promises by the Agents.
    Companies moreover recruit agents mostly gulf returned Personnel’s assuming that they have many contacts and many friends of them who returns back home yearly on vacation.
    Once the NRI arrives to his town, these agents visit the house of the NRI soon after the arrival. First they will greet and talk sweet words and being very friendly. on first attempt only they put a word for the Investment . Thereafter they will visit and bring the companies development officer along with them , and they will make continuous follow ups through telecalls. Thus NRI gets irritated and bows down to the agent and he tries to invest , as not to lose the friendship.NRI’s Decides to invest in funds or any other kind of Investment, without knowing the history of the company, where is he investing.Moreover fraud companies offer a very attractive incentives to their agents and gain their confidence.Please verify the company before you Invest.

    DisAgree Agree [5] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Mon, Aug 25 2014

    Thank you Tulunadu Rakshana Vedike for fighting against FEKU's ...

    DisAgree [1] Agree [17] Reply Report Abuse

  • Mathew, Kasargod/ajman

    Mon, Aug 25 2014

    No surprises. Both cheques have 420 written in them well in advance.

    DisAgree Agree [10] Reply Report Abuse

  • krishna, mumbai

    Mon, Aug 25 2014

    Pramodini Shetty is an agent. She is worried about her commission. She came out public when didn't get her commission otherwise these agents never worry about customers.

    DisAgree [6] Agree [30] Reply Report Abuse

  • joe Gonsalves, Mangalore

    Mon, Aug 25 2014

    This is not the first instance where people have duped by the so called Financial companies.

    It is therefore expedient that people with available funds convert them into fixed deposits with Government Banks or Banks listed for the purpose. These banks may not pay interest as promised by the agents but the money is safe.

    Better discretion therefore prevails.

    DisAgree Agree [8] Reply Report Abuse

  • mak,

    Mon, Aug 25 2014

    This group also started a super market named V Hyper at K.S Rao Road which was shut two months ago,wherein they have to pay all their suppliers running to amount of almost 1 crore.They are now absconding.

    DisAgree Agree [13] Reply Report Abuse

  • krishna, mumbai

    Mon, Aug 25 2014

    The boss of this group must be Keralian or a miyabhai?

    DisAgree [6] Agree [10] Reply Report Abuse

  • Mangalorean, Mangalore

    Mon, Aug 25 2014

    Mr Krishna,
    Naam Krishna aur baatein shakuni ki...?name shud hv been Narayan..haha..
    N for ur kind info a person from Kerala is called keralite..

    Stop judging people based on community,caste,region,place n all...even uneducated don't do that des days..let's bhv as educated decent ones..wen v change d world l change too..

    DisAgree [1] Agree [4] Reply Report Abuse

  • readerwriter007, pune

    Mon, Aug 25 2014

    it's same story , except there is an additional layer here which is the lady who claims herself as an agent. Rest of the story remains same.

    DisAgree [2] Agree [11] Reply Report Abuse

  • Kusuma Kumari G, Nellore/Kodyadka

    Mon, Aug 25 2014

    women these days outsmart men in cheating. Kaliyuga what else to say?

    DisAgree [4] Agree [12] Reply Report Abuse

  • HENRY MISQUITH, Bahrain

    Mon, Aug 25 2014

    Never fall for such schemes. There are better investment options such as bank fixed deposits in nationalized banks.

    DisAgree Agree [19] Reply Report Abuse

  • Agee, Indian - UAE

    Mon, Aug 25 2014

    What happened to that Agri Gold... can i hope for my money

    DisAgree [5] Agree [14] Reply Report Abuse

  • vellano1, Mumbai

    Mon, Aug 25 2014

    Why cant our people understand the basic fraud of these financial institute! I feel sad, cos, they hide this small amount savings for their husbands and slowly start investing in this "schemes, chhit funds".. they dont know basic economics and only go for "lucky draw for gold, double ur money in 3 years, pick the best electronics for ur home" and its a chain reaction.. one enters, she brings in others! all with good intention.. but they dont know, this scheme will not survive, when banks themselves are making a loss! now all this money is gone and u will never recover! guys, hard work only pays... no short cuts in life! ! atiyaase gatikedu! look at the cheque numbers 420/- is the amount everywhere... -)

    DisAgree [2] Agree [6] Reply Report Abuse

  • Ceraj, Bejai, Mangalore

    Mon, Aug 25 2014

    Is this the same guy who attacked Tool collector??

    DisAgree [5] Agree [14] Reply Report Abuse

  • Ceraj, Bejai, Mangalore

    Mon, Aug 25 2014

    Correction please : Toll gate collector.

    DisAgree [2] Agree [5] Reply Report Abuse

  • stan, dubai

    Mon, Aug 25 2014

    The name of Vruksha indicates you are a diligent and persevering worker who enjoys a routine occupation where you can do a job well and finish what you start. What they did as per their name….. taken money, promised good return in time but they gave them cheque which is bounced.

    DisAgree [2] Agree [6] Reply Report Abuse

  • ISMAIL K PERINJE., PERINJE.

    Mon, Aug 25 2014

    MARA(tree) kk PURI(worms) pattd,saithnd !Yerala Bejar malpodutchi...

    DisAgree [5] Agree [15] Reply Report Abuse


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Title: Mangalore: Firm accused of cheating agents, clients, FIR lodged



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