Mangaluru: In the history of Mangalore court 140 FIRs have been registered and body warrant on every case has been issued by the second additional CJM court against Vraksha Business Solution India Limited which was located in the Utility Towers on K S Rao Road in the city.
In a press release it is mentioned that the Managing directors of Vraksha Business Solution India Limited Jeevaraj Puranik, Roshan D’Souza, Suresh Poojary, Mulky Ratnakiar Chadaiah and Nogibail Chinnappa invited investors to invest in their firm with promises of payment of 18% returns to the investors and 16% to the agents, on local newspapers in 2008. People trusted the company and invested upto Rs 30 crores but When the investors found that there were no signs of any returns they filed police complaints against the directors.
A complaint against Jeevaraj Puranik, Roshan D’Souza, Suresh Poojary, Mulky Ratnakiar Chadaiah and Nogibail Chinnappa was registered in the second CJM court and all the five were arrested and sent to judicial custody seven months ago. Later all the 140 agents filed criminal cases against the directors. The second additional CJM court registered all 140 FIRs and in every case, body warrant has been issued on all the five accused.
Advocates Raghavendra Rao, K Kiran Kumar and Yashwini S R contested the case on behalf of the complainants.
Related News:
- Mangalore: Investors’ ‘Problems’ with Vraksha Business ‘Solutions’ – Manager Arrested
- Mangalore: Directors of Vraksha Business Solutions Arrested – Remanded to Judicial Custody
