Sanjay Bhati, a 44 yr previous man with a diploma in mechanical engineering, is the founding father of Garvit Innovative Promoters Ltd (GIPL) and the mastermind behind the Bike Bot rip-off. The Economic Offences Wing (EOW) of the UP authorities is investigating the rip-off, and a reward of Rs 5 lakh every has been introduced for the seize of three accused, together with Bhati’s spouse, Deepti Behl, and Bhudev and Bijendra Singh Hooda.
GIPL lured traders with a promise of Rs 9,765 month-to-month returns on an funding of Rs 62,000 per bike. The firm opened workplaces in a number of areas, together with Haryana, Rajasthan, Delhi, Agra, and Mathura, and as many as 2.6 lakh individuals have been cheated out of Rs 4,000 crore.
Bhati was arrested in June 2019 after surrendering to the court docket. He resigned as director of the corporate in November 2018, after being given a ticket to contest within the 2019 parliamentary elections. Despite this, he stays the mastermind of the rip-off.
Investors who didn’t obtain any cost lodged FIRs in opposition to the corporate and its homeowners and administrators. The EOW, together with the Special Task Force (STF) and native police, have arrested 26 individuals in connection to the rip-off. Bhudev, who was an assistant director of GIPL, had his residence in Bulandshahr hooked up by authorities.
Deepti’s residence in Loni space of Ghaziabad was additionally hooked up. The case was transferred to the EOW after a complainant, Sunil Kumar Meena, filed an FIR in opposition to the Bike Bot operator at Dadri police station in February 2019.
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