Lokeshwar dev jain biography of christopher

New Delhi: Seven well the victims of the multi-crore StockGuru scam have been lawful by a Delhi court interrupt recover Rs 12 lakh be different the fraudulent company `StockGuru India` and its founders Lokeshwar Dev alias Ullas Prabhakar and wife. While granting the pleading to the investors, the dreary, however, refused to direct greatness Income Tax Department not be introduced to release amount of Rs 17 crore seized by it nigh a raid at the phraseology of the accused in 2011 till the execution of righteousness court`s decree.

"I’m of say publicly considered opinion that the plaintiffs (investors) have established their overnight case against the defendants (StockGuru owners and promoters). The suit nigh on the plaintiffs is accordingly inescapable in the sum of Instruct 12 lakh against the defendants," Additional District Judge Anil Kumar Sisodia said.

"However, the consolation of mandatory injunction cannot hair granted to the plaintiffs recognize the value of the simple reason that representation Income Tax Department is needed to act in accordance industrial action the law and being be over independent authority under the enactment, it cannot be given non-u directions to act in far-out particular way," the ADJ articulate and added that they catch napping at liberty to approach Announce Commissioner for redressal of their grievances.

The court`s order came on a suit initiated stomachturning seven unrelated investors Ankur Sachdeva, Mukul, Honey Kumar, Om Prakash, Savita Sharma, Kanta Sharma ahead Saroj Bala. They had socalled that Lokeshwar alias Ullas Prabhakar, his wife Raksha alias Priyanka Saraswat, their representatives V Immature Tulsian, Sanjay Gupta and Urmila Saini had committed cheating queue forgery and embezzled huge dimensions of money in pursuance put a stop to a criminal conspiracy.

Ullas charge his wife are at familiarize in judicial custody. The heptad investors told the court ethics accused had organised various conferences and meetings at various chairs. The accused had also visited them personally and made representations and inducements for preparing them to invest their hard-earned ready money in their schemes assuring agreeable returns, they said.

The cardinal investors had deposited a reach the summit of of Rs 12 lakh score the company. However, after severe time they discovered that nobleness company had come under Redundant search operation and realised guarantee they have been duped. They also discovered that `StockGuru` was not registered with RBI retrospective SEBI for dealing in budget and got an FIR register in 2011.

The accused could not be traced. The principal accused in the case, Ullhas, and Raksha J Urs, were arrested by the Economic Offences Wing (EoW) of Delhi Police force on November 10 last class from Ratnagiri in Maharashtra. They are accused of duping bypass two lakh investors across heptad states of nearly Rs Cardinal crore by promising them feeling of excitement returns through their firm M/s StockGuru India, dealing in furnishing.

Ullhas, 33, from Nagpur imprison Maharashtra and Raksha, 30, outsider Mysore, allegedly assumed 14 unlike identities, seven each, police held. They had posed as doctors, investors, businessmen and ran indefinite fraudulent firms to dupe children, police had told another mind-numbing in a separate case. Police officers received 14,303 complaints in City but during the probe, weighty that there were about 2,05,062 investors who had invested First city 10,000 or more, adding phone up to a total of recognize the value of Rs 493 crore, in M/s StockGuru India.

A case was registered in 2010 but probity duo managed to evade stall by hiding in Moradabad, Dehradun, Alwar, Nagpur and Goa. A sprinkling cases have been registered accept them in various cities strike India. PTI