Hyderabad: A businessman, who reportedly conned numerous human beings across the us of a, to the music of Rs 15 crores, by means of promising car dealership of his Eider Vehicles, become arrested by Imperative Crime Station (CCS) on Saturday.
Deputy commissioner of police (CCS) Avinash Mohanty said they acquired 3 lawsuits in opposition to Eider Automobiles chairman and handling director Shiv Kumar, who personal a fancy workplace in Jubilee Hills, for collecting almost Rs 25 lakh from absolutely everyone to permit them to open Eider showrooms and sell in particular-designed two-wheelers.
Till date, Shiv Kumar might have accrued at the least Rs 15 crores from his forty sufferers. He reportedly leads a lavish lifestyle, police said Plan Trustler.
After amassing money, Shiv Kumar had now not supplied -wheelers to his dealers except giving them 3 or four bikes for show. He were doing the motor-cycle enterprise for the closing years and in Hyderabad by myself had eight showrooms. While the sufferers requested him to go back their cash, he threatened them of dire effects, police delivered.
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“All his bikes aren’t roadworthy on account that they do not have certification from involved authorities agencies like Car Research Association of India. Until now, round 60 cases had been registered in opposition to Shiv Kumar across India. Within the town, cases have been registered at Jubilee Hills, Kachiguda and some different police stations,” Mohanty introduced.
As of now, Shiv Kumar turned into the only one declared as accused even though In the criticism victims additionally stated his wife’s name. It’s miles nonetheless unknown why local police did now not take action towards Shiv Kumar despite receiving court cases. Per week ago, three sufferers approached the CCS police with their court cases. Each supplier become assured a fee among Rs 6,000 and Rs 12,000 per motorcycle.
Don”t gullible dealers do,a historical past test earlier than parting with the cash? Heard of Eicher however,Eider! It smells and stinks.Sunil
Earlier, Shiv had knowledgeable his dealers that he had production licence of bikes (models Stoic, Etania, Ruddy, Dronzer,) and scooters (fashions Leora and Visrah) and additionally had R&D gadgets in Gurgoan. His business enterprise became production automobiles and spares via importing technology from Japan and designs from Germany. He in addition claimed, in a newspaper advertisement, that they have been assembling automobiles at Pedda Amberpet, Hayathnagar. The automobiles have been giving accurate mileage and had been synthetic as per Indian standards BS-III. He claimed that they were certified with the aid of ICAT Checking out Middle, Gurgoan, Delhi.
Within the beyond, Shiv Kumar, as part of promotion, had knowledgeable the media that his one hundred ten cc motorbike ‘Stoic’ might give a mileage of a hundred and ten kmpl. He supplied five bikes and a scooter Within the 110-250cc segment for a charge between Rs 50,000 and Rs 1 lakh. The showroom owners, in flip, commenced booking two-wheelers by collecting cash from customers.
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