Two brothers booked for running fraudulent finance companies in Jammu

2 brothers namely Vikas Mahajan and Lokesh Mahajan belonging to Gurha Bakshi Nagar have been arrested in charge of running 3 fraudulent finance firms in Jammu.

A case against the two fraudsters was registered after target client DK Gupta, resident of Paloura lodged a written complaint against them. The case was overlooked by the Reserve Bank of India (RBI) who alleged that the companies Samridhi Finance Limited, SK Business Corporation and Mahajan & Co. were fraud and had swindled large amounts from people.

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RBI also informed that only one out of the three companies, Samridhi Finance Limited was registered but the company wasn’t entitled to accept public deposits, the spokesperson of the Crime Branch said.

A verification was conducted by the Crime Branch and a formal case has been registered under various sections of law against the 2 owners to dupe public’s earned money. It is a punishable offence, He added.