| Author | Message | ||
     Rajusk Junior Artist Username: Rajusk Post Number: 285 Registered: 02-2008 Posted From: 66.93.90.250 Rating: N/A |
Eight listed companies of the city vanished into thin air after collecting crores of rupees from people through Initial Public Offers. According to the Registrar of Companies of the Ministry of Corporate Affairs, the companies collected more than Rs 28 crore through shares. The Central Crime Station and Crime Investigation Department have booked cases against these vanishing companies as per the complaint lodged by the ROC, Mr Henry Richard. These companies diverted and misused funds and failed to file annual reports, financial results and balance sheets. The list of vanished companies includes Swal Computers Ltd, Orpine Systems Ltd, Daisy Systems Limited, Sequel Soft India Ltd, Visie Cybertech Ltd and IMAP Technologies Ltd. Police booked case of cheating, misappropriation, and criminal breach of trust (under sections 403, 406, 415, 418, 420 and 424 of Indian Penal Code) against them and decided to prosecute the promoters. |
