Arrest Of Rewarded (Rs.50,000/-), Kamal Kant Kaushik, Director Of M/S Indus Car Air & Air Rentals (India) Pvt. Ltd For Duping Around 900 Victims.

Anti Fraud & Cheating Section of Economic Offences Wing, Crime Branch arrested proclaimed person Kamal Kant Kaushik (51yr), from Delhi recently for inducing a large number of victims to invest in the pretext of high interest and other fraudulent schemes being run by the accused company i.e. Indus Group of companies. He has been declared proclaimed person in FIR No. 147/10 PS EOW on 23.8.11 & FIR No 121/11 PS EOW on 29.5.13 and is absconding in FIR No 1/11 PS EOW and FIR No 2/11 PS EOW.  A reward of Rs. 50,000/- was declared for the felicitation for the arrest of the accused Kamal Kant Kaushik.  He along with other associates cheated the complainants/victims through their company M/s Indus Car & Air Rentals India Ltd. and its associated companies having its regd. office at 307-309, Ansal Tower, Nehru Place, New Delhi.

             Earlier, a large number of complaints were received in EOW alleging that the directors and other officials of M/s Indus Car & Air Rentals India Ltd. having its regd. office at 307-309, Ansal Tower, Nehru Place, New Delhi had induced them through brochures, News Papers, Tele-calling directly, web sites www.indusgroup.co.uk    www.medicoglobal.com    www.induslta.com      www.fashionmirage.in etc. to invest their hard earned money in their company. The Directors/Officials of the company presented a easy picture that the company was carrying on the business of cab/car booking, providing vehicles on contract/hire basis to corporate/MNCs/Hotels, national/international tourists,   real estate etc. The management of the alleged company M/s Indus Car & Air Rentals India Ltd. floated various schemes of investment by the name of “Indus Mutual Growth Plans” for general public and approached the public through advisements & direct Tele-calling for making investments of Rs.1,25,000/- to Rs. 5,45,000/- for a period of 5 years with guaranteed returns of Rs.8200/- to Rs.36,500/- pm. Later on the company introduced 1 to 3 years plans. The company issued receipts of payments, copy of agreement regarding the investments and post dated cheques for their repayments. Some of the cheques were initially honoured and by this way accused persons gained the confidence of the investors. However, later on the cheques started bouncing on presentation. To modify the investment, the company called off their “Mutual Growth Plans Schemes” and contacted the investor to settle their investment. Accordingly, full and final settlements were signed with investors and cheques were issued which included their invested amount and interest at the rate of 12% PA for the period the money was invested. During the settlements, the original agreement, receipt issued by the company and PDCs were taken back by the company. On presentation, the cheques of settled amount in the banks were dishonoured.  Accordingly, a case vide FIR No. 147/10 dt. 4.11.10 u/s  406/420/120B IPC PS EOW, New Delhi was registered.

            During investigation it was found that S.R. Nandan, Vimal Aggarwal, Kamal Kant Kaushik and Ram Kumar Pathak formed a company in the name of M/s Indus Car & Air Rentals India Pvt. Ltd.  The company had given wide publicity through news papers and brochures and tele-calling.  The company had nominated its franchisees’ in the different parts of India. Approximately 900 investors had invested around Rs. 15 crores in the company. So far about 150 complaints have been received. Three more cases vide FIR No 1/11 PS EOW, FIR No 2/11 PS EOW and FIR No 121/11 PS EOW have been registered in this regard.

            It has also been found that the alleged company M/s Indus Car & Air Rentals Pvt. Ltd had not obtained the permission from the RBI to seek public deposits. Three  more companies were incorporated i.e. M/s Indus Global Medical Tourism & Travels Pvt. Ltd., Indus Kreative Fashion Pvt. Ltd. & Indus Mark Vision Architects Pvt. Ltd. alongwith a trust in the name of  Indus Global Humanity Trust having its office at 307-309, Ansal Towers, 38, III^rd Floor, Nehru Place, New Delhi.

            While under interrogation, it was revealed that Ram Kumar Pathak one of the accused in present case was working with Vimal Agarwal who was involved in the real estate business in Loni, Ghaziabad. They came into contact of the Kamal Kant Kaushik, who introduced them to S.R. Nandan and Mrs. Kanchan Chaudhary associated with M/s Om Sai Nath.  All the four viz S.R. Nandan, Vimal Aggarwal, Kamal Kant Kaushik and Ram Kumar Pathak formed a company by the name of M/s Indus Car and Air Rental Pvt. Ltd. Accused Kamal Kant Kaushik in association with Vimal started booking of the flats/ buildings at the initial phase and after some period sold them at a higher price.  The huge profit earned from the booked flats was distributed to the investors, initially to gain their confidence.  Thus, to invest more money in the real estate, they started fraudulent investment schemes. However, as per promise the funds were not utilized as per the concept and were misutilised by diverting the same from the parent company through other sister concerns and accounts. Thereby causing loses to large number of investors.

             On 09.04.2015, an information was received about accused Kamal Kant Kaushik, aged 51 yrs., from a secret source.  Promptly acting on this information a team comprising of Inspr. Ravinder Malik, SI Rajneesh Kumar and, under overall supervision of ACP M.S. Sekhawat, arrested the accused from Delhi.