Nagpur : On Friday, the Economic Offences Wing of the city police initiated legal proceedings against three directors of Jaya Fuels, based in Kattanam, Kerala, following accusations of defrauding an investor of over Rs 1.81 crore through promises of high returns.
The accused individuals, identified as Vijayan Pillai, Vijayakumar Pillai, and Nazim Haneefa Rawther, hail from Kannanakuzhy, Thamarakulam, Mavelikkara, in the Alappuzha district of Kerala.
Gold Rate
Tuesday 28 Jan. 2025
The complaint, filed by Latish Kumar Bharatan, a resident of Telangkhedi, alleges that the accused trio assured him a 30% profit on investment in M/s Jaya Fuels, purportedly for the establishment of a petrol pump in Kattanam, Kerala. Subsequently, Bharatan invested with Jaya Fuels under these assurances.
However, when Bharatan requested the return of his investment along with the promised profits dating back to 2012, the accused issued two cheques amounting to Rs 1,81,94,000. Unfortunately, both cheques bounced due to insufficient funds.
Upon receiving Bharatan’s complaint, the Ambazari Police Station registered a case against Vijayan Pillai, Vijayakumar Pillai, and Nazim Rawther under Sections 420, 406, and 34 of the Indian Penal Code. Deputy Commissioner of Police (EOW) Archit Chandak is overseeing the investigation into the matter.”
