Sarb Agro dupes 200 of Rs 25 crore, MD booked : The Tribune India

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Sarb Agro dupes 200 of Rs 25 crore, MD booked

Tribune News Service

Bathinda, October 14

Sarb Agro Company has duped around 200 persons of Rs 25 crore on the pretext of investment in mushroom products in the region. They lured people to invest in their company by promising them high interest on their money by holding meetings in city hotels.

The police have registered a case against Sarb Agro Company MD Amarjit Singh Dhingra, director Ram Singh and Sundari, Gursharanpal Singh, Navjit Singh, Vijay Negi, Praveen Rani and Krishan Singh at Cantt police station. All the accused are absconding.

The case has been registered after the probe of seven months into the complaint of Insaaf Di Lehar Khatedar Union chairman Gurbhej Singh Sandhu. This is the third case of fraud registered against this company. Earlier, cases were also registered against them at Bathinda and Moga.

As per information, the accused took loan from Punjab National Bank and a private financial institute and installed three mushroom farms at Mehma Sarja village in Bathinda. They purchased machines from abroad and started mushroom trend in the region. Over the years the company made people invest crores in their company and later, officials fled by taking money of the investors. Now the bank has locked the company office and it is also learnt that this company is registered in Dubai.

In the probe, it has come out that the company officials use to make people invest in their company by showing them three mushroom farms. They use to hold meetings in the hotels where they lure people by offering 18 per cent interest on their investment. They made fixed deposit in the name of the company MD and are on the run since 2016.

Gurbhej Singh said the company had lured the people that if they would invest Rs 30,000 with them, then after five years, they would get Rs 99,000. They had opened their office in Nirmal Complex at Guru Gobind Singh Nagar in the city. In August, the Moga police had registered a case against the accused for duping more than 100 persons of Rs 7 crore.