New Delhi:The Rouse Avenue Court in Delhi has ordered a seven-year imprisonment to former MLA Ranbir Singh Kharb and his wife Anita in a cheating and criminal conspiracy case. Also, a fine of Rs 44 lakh has been slapped on the couple.
The case relates to cheating investors from 1998 to 2004. Kharb was the sitting MLA at that time. In 2006, a case was registered by Delhi Police's Economic Offence Wing. It was alleged that investors were defrauded through a chit fund firm named Jyoti Fair Finance Company of Rs 3 crore on the pretext of high returns. Kharb and his wife were among the directors of the firm.
The Additional Chief Metropolitan Magistrate issued the verdict on February 24 and the convicts were asked to surrender on Monday.
The first complaint in this case was registered by an investor named AS Hooda on September 30, 2005. The complainant had invested Rs 95 lakh in the company between 1998 and 2002. When the complainant asked for a return from the company, he was refused. On the basis of Hooda's complaint, an FIR was registered against all the directors
Notably, Jyoti Fair Finance Company was set up in 1998. Singh, elected as Khabar MLA in December 2003, continuously refused paying returns to investors on one pretext or the other. He was an independent MLA and allegedly threatened the investors.
Police registered an FIR and investigations were initiated. Earlier in 2009, a trial court had sent the couple to judicial custody for 14 days.
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