Chit fund company SUSK India Limited in Madhya Pradesh cheated 300 people from 300 people between 2011-2016. The company made investments with greater profits and closed in 2016. EOW has registered a case of cheating against eight people, including company owner Kailash Lodhi.
By Neeraj Pandey
Publish date: Sat, 01 Mar 2025 06:14:47 pm (IST)
Updated date: Sat, 01 Mar 2025 06:14:47 pm (IST)
Highlights
- The chit fund company cheated one and a half crore from 300 people.
- Ujjain headquarters, investment from chain system through agents.
- Claim of investment in real estate, film, hotel projects.
State Bureau, Naiduniya, Bhopal. The Economic Offenses Cell (EOW) has registered an FIR against the officials of Chit fund company SUSK India Limited on charges of cheating Rs 1.5 crore in the name of investment from 300 people of Madhya Pradesh.
In this, eight, including the company’s director and owner Kailash Lodhi, have been named and others have been accused. The case is between 2011 and 2016.
EOW officials said that along with Madhya Pradesh, the company had cheated similarly in many states including Chhattisgarh, Rajasthan. After examining the statements and documents of the victims, the EOW has now established the case.
Company headquarters in Ujjain
Officials said that the chit fund company was established by Kailash Lodhi and other officials in the period 2011 to 2016. The company is headquartered in Ujjain. The company appointed agents and made more than 300 people members through the chain system by luring commission and prize.
They were invested in the company. Before the completion of the maturity period of the amount deposited from the investors, its officials closed in 2016 and disappeared, causing about one and a half crore rupees of investors.
Investment in greed for many times more profit
Through the agent, the company’s officials received funds from people in the name of investment in real estate, film production, agriculture products, construction, farm, dairy, factory, society, paste control services, hotels etc.
Policy bonds were issued by the company to take the amount. On completion of the maturity period, the temptation was given to pay several times more than the invested amount, but not paid.
When the investors approached the company, the officials of the company assured that your amount has been invested in other projects including property. The amount will be withdrawn with interest after sale.
Accused made
Kailash Lodhi (Director / Owner), Narendra Singh Lodhi (Director), Bhagwati Bai (Director), Anil Singh Lodhi (HR Manager), Fateh Singh (Director), Amit Jain (General Manager), Shakir Khan (MD), Sunil Kumar Tiwari (Director) and others have been cried in fraud and other sections.
(Tagstotranslate) Investment (T) Fraud Case
