Chennai: EOW-CID sleuths carried out marvel raids on the residences of 21 directors of Hijau Associates Private Limited and filed a case towards the firm, the directors and some others, stated a launch on Tuesday.

The raids had been primarily based on complaints filed by means of the folks that have been lured into investing cash on promise of 15% month-to-month hobby.

On a tip, the group inquired approximately Hijau Associates Private Limited and its sister problem SG Agro Products, Aruvi Agro Products, Sai Lakshmi Enterprises, Ram Agro Products and RMK Bros. For gathering around ₹500 crore from four,500 depositors. Several vital portions of evidence and proof were located.

A case became booked against 21 human beings such as the company director Alexander and MD Soundarajan underneath numerous IPC sections.

Police have arrested one man or woman, D Nehru (forty nine) of Periyar Nagar on Wednesday. He changed into produced earlier than a magistrate and remanded in custody.

CHENNAI: Economics Offences Wing (EOW) – CID police have busted a rip-off in which public were promised 15 in keeping with cent returns every month for their deposits by using a enterprise development consultancy, which has gathered round Rs 360 crore from 1500 depositors.

Police have begun investigations in opposition to directors of Hijau Associates Private Limited company, which is stated to have orchestrated the fraud. Preliminary investigations found out that the organisation didn’t repay the monthly hobby as well as the essential amount to its depositors.

Subsequently, more than 1,000 humans who had deposited within the organization lodged a criticism in opposition to the organization, and then EOW took over investigations.

Inquiries discovered that the agency’s administrators used their organisation’s sister concerns-SG Agro Products, Aruvi Agro Products, Sai Lakshmi Enterprises, Ram Agro Products and RMK Bros to collect cash from public.

EOW has registered a case against 21 persons, consisting of the Directors of the organization, Alexander and Soundararajan. They had been booked underneath Sections of the IPC, including 420 (cheating) and Section 5 of The Tamil Nadu Protection of Interests of Depositors (In Financial Establishments) (TNPID) Act, 1997 and Sections 21 (three), 22, 23, 24, 25 of Banning of Unregulated Deposit Schemes Act (BUDS) Act.

Police have arrested one man or woman, D Nehru (49) of Periyar Nagar on Wednesday. He was produced earlier than a magistrate and remanded in custody.

EOW-CID have requested the victims to reach the research officer at ‘hijaueowdsp@gmail.Com’ if they too had been conned with the aid of the firm.

Hijau Associates Private Limited is an Indian Non-Government Company. It’s a personal organization and is classed as’enterprise limited through shares’.

Company’s authorized capital stands at Rs 10.0 lakhs and has 10.0% paid-up capital that is Rs 1.Zero lakhs.

Hijau Associates Private Limited is majorly in Business Services commercial enterprise and currently, enterprise operations are active.

Company is registered in Chennai (Tamil Nadu) Registrar Office. Hijau Associates Private Limited registered cope with is NO 19 LOTUS STREETANTHOSH NAGAR KORATTUR,CHENNAI,Chennai-600076,Tamil Nadu.

Hijau Associates Private Limited Details