Ayurveda company dupes people of ₹30 lakh in investment fraud

MUMBAI: The directors of an Ayurvedic medicine manufacturing firm are booked for allegedly floating a bogus investment scheme and duping around a dozen people to the tune of ₹30 lakh. The frauds lured the victims by promising them high returns on their investments.

The case is registered based on the complaint lodged by Bharat

Shirkar, 49, a Malad East resident who works with a security company. Shirkar’s cousin introduced him to Malad-based Deepak Energy Conservative Private Limited, which is into manufacturing and selling Ayurvedic medicines. When Shirkar contacted the company, he was told that the firm had various investment schemes wherein they have roped in investors and given them a good profit on their investments. Shirkar was told that he would get a total of ₹3 lakh in 30 monthly instalments of ₹10,000 each, if he invested ₹1.68 lakh in the company’s investment scheme, according to the FIR. Shirkar decided to invest in the scheme and took a personal loan from a bank for that purpose. Between 2019 and 22, he invested ₹8.40 lakh. Till June this year, Shirkar regularly received the instalments, but later the company started defaulting on repayment.