Cheating case: Verdict against JVG Group chairman upheld

Tribune News Service

Chandigarh, September 27

Additional District and Sessions Judge JS Sidhu today upheld the sentence of two-year jail for the chairman of the JVG Group of Companies while disposing of the latter’s appeals against the verdict in 16 cases of cheating here today. A fine of Rs 2,000 in each case was also imposed on the convict.

The complainants had alleged that the JVG Group of Companies was offering lucrative interest to them. They had also attended the investors’ meet conducted by the Board of Directors, including its chairman Vijay Kumar Sharma, chairperson Veena Sharma and managing director Col Tripat Singh Bhan.

They had invested under various schemes of the firm. The post-dated cheques issued to them returned dishonoured when presented to banks on their maturity.

The accused were booked under Sections 420 (cheating) and 120-B (criminal conspiracy) of the Indian Penal Code (IPC). The company chairman and the MD were later arrested by the Delhi Police whereas the chairperson is still absconding.

The lower court had held the chairman guilty on December 23 last year.