Top brass of JVG booked for cheating

CHANDIGARH, Dec 18: The Criminal Investigation Agency (CIA) of the Chandigarh Police has registered a case against the chairman, chairperson and managing director of JVG Investments. The case has been registered against chairman Vijay K. Sharma, chairperson Veena Sharma and managing director Col Tripath Singh Bhan (retd) for cheating, criminal breach of trust and conspiracy under Sections 420, 406 and 120-B of the Indian Penal Code. However, no one has been arrested so far.

According to police sources, in a complaint filed with the Sector 3 police station, Major D.S. Sandhu (retd) has alleged that he had invested his pensionary benefits and savings with the JVG Foods Limited after noticing advertisements by the company offering an attractive rate of interest. His wife and other relatives had also invested. Sandhu said the deposits by him and his relatives totalled nearly Rs 1.76 lakh.

He said he was given post-dated cheques issued under JVG Investments and these could not be encashed due to insufficient funds. He added in his complaint that all the branch offices of the company in the city had been closed.