Singhland officials booked for Rs 2.58-cr fraud

Ludhiana, February 17

The police have booked seven officials of Singhland Investment, Singhland Real Estate and Infrastructure, of the Singhland Group of Companies, for duping several residents of more than Rs 2.58 crore in the guise of attractive returns.

The suspects have been identified as Chairman Savinder Singh Khokhar, Director Sehrab Singh Khokhar, Director Ravinder Kaur Khokhar, Director Simrant Kaur Khokhar, Kanwar Sultan, Director Shamsher Singh, and CEO Karamchand. They own an office at Syal Complex, Gill Road.

The complainant, Harpreet Singh and others, all residents of Sangrur, have alleged that this company was started in 2005 in Sangrur when its officials collected a huge sum of money, may be in crores, promising the investors multiple returns. But now, the company officials have failed to return money to its investors.

After the complaint was submitted to the Commissioner of Police, Ludhiana, the economic offences wing conducted an inquiry and later recommended an FIR against the company. Among the complainants are agents who brought investments assuring investors of attractive returns. 

The company officials got investments worth Rs 2.58 crore but failed to give any returns to the beneficiaries, a complainant alleged. The investigating officer, ASI Balvir Singh, said after registering a case of fraud and criminal conspiracy, further probe has been launched in the case. Those booked in the case are yet to be arrested. — TNS