Finance firms cheat Paonta residents

Solan, January 20

Private finance companies have duped several Paonta Sahib residents of crores of rupees by promising big returns on fixed and recurring deposits.

A delegation of residents met Sirmaur SP Ajay Krishan Sharma at Nahan today and apprised him about their plight. They claimed that several people like them had been cheated of at least Rs 5 crore.

They said Suraj Pundir, a Saharanpur resident, had introduced them to Ravinder Kumar, who had claimed to be the Deputy GM of a finance company, Raise Field Business Enterprises, in 2013. They lured the residents to invest in the fixed and recurring deposit schemes of the company, which invested in the real estate business.

The company initially kept its promise but later backtracked. Another company Texas Food and Beverages was opened in 2014, which also promised similar gains to investors. The SP said that complaints had been received from people against finance companies having duped them and the issue was being examined. — TNS