Maharashtra Legislators urged to raise Rs.2000 crore ‘Shreesurya–Wasankar- Satvik’ Scams

Nagpur News: After EOW has arrested directors of ‘Shreesurya Group’ under charges of cheating of 10 thousand investors from farm crisis hit Vidarbha and Marathwada lured with towering return dumped now recently another two wealth management companies one floated by Dr. Prashant Wasankar and another floated by Amol Dhake titled Satvik Financial Services Ltd. have been reported to be involved in same illegal acts and facing same fate, they have trapped more than 10,000 middle class and old aged pensioners by promising very high returns of schemes which were never allowed by RBI or SEBI nor these companies got any legal permission to do but they are till looting innocent investors as administration is protecting them hence Maharashtra legislators are being humbly requested take up this serious issue on the floor of house as winter session in progress in nagpur itself, Kishore Tiwari of Vidarbha Janandolan Samiti (VJAS) informed in press release today.

Nagpur has been rocking with such stories of Mega Investment Scam and it is alleged that these so called wealth management companies has sussefully eroded eroded the hard earn money of more than five thousands innocent people offering high dreams of rich future within short span of time as per documents attached with this complaint that Wasankar who is charging huge amount membership amounting more than Rs. One lakh per annum collected more than Rs. 2000 crore giving post dated cheques offering around 30% interest on deposit nut now forget the interest investors are finding difficult to get back their own money more over, this firms run Dr. Prashant Wasankar company and Amol Dhake titled Satvik Financial Services Ltd are not registered with any regulator under finance ministry or Reserve Bank of India or Securities and Exchange Board of India (SEBI) for collecting such deposits which is illegal as per GOI acts and Mah.state’s money leading act. But nobody has questioned the company as on today hence Maharashtra lawmakers are to ask Govt. to initiate the action under Maharashtra protection of investors deposit act 1999 (MPID) against Wasankar Group promoters in order to save these investors ,Kishore Tiwari demanded.

“The grid of investors or depositors to higher return is leading to innocent victimization in which most victims are middle class pensioners hence we are urging CM to have urgent intervention to get back basic capital of these dying old age pensioners as we have received lot complaints that Dr. Prashant Wasankar has denied to pay back capital sighting the reasons of financial crisis hence state should give him financial bailout package as all illegal activities of Wasankar and amol dhake are being promoted and protected by Babus, police and other hostile pillars of democracy” Tiwari added.

In letter open letter to all MLA/MLC it is requested that that Dr.Prashant Wasankar and Amol Dhake have been working in Nagpur as sub-broker of BSE-NSE capital market since last two decades ,have earned the confidence of investors to larger extend and has been writing in local newspapers on wealth creation solutions and arranged investors meet in all metros of India and abroad ,is having active operation in Australia and Singapore but his real activities of running fishy and illegal deposits schemes offering interest rates more than 1.5% has been reported in Feb,2013 and when shreesurya scan was reported , cracks to the trust of wasankar developed and investors panic of getting capital money back has exposed the bankruptcy of wasankar group and investors realized they have been dumped and cheated by fraudulent misleading investment advices given by Dr.Prashant Wasankar ,has approached VJAS to get back their hard earn life time earning hence CM Maharashtra has been urged to intervene in the matter as local politicians are covering misdeed of Wasankar ,Tiwari added.

VJAS has attached promissory notes and cheques given Dr. Prashant Wasankar and Interest chart signed by himself offering the schemes that double the money with 30 months and offering a membership collecting Rs lakhs of rupees then members where asked to give fix deposits and but now investors are demanding the return of the capital but Dr.Prashant Wasankar has failed to return the money and he has been asking the investors to wait sighting recession in share market and helpless investors are crying before the office of Wasankar Group and in the plea to CM of maharashtra VJAS has drawn the attention of administration that all deposits collected by the Wasankar company are illegal and has no legitimate status where as he has been fully protected by local Police Authorities, SEBI, RBI, Govt. of Maharashtra etc. and activities of Wasankar Wealth Management Group and Satvik Financial Services Ltd. is nothing but money laundering activities and it has international network too, Tiwari added.

Recently Wasankar Group and Satvik Financial Services Ltd. illegal activities and bankruptcy was reported in electronic and print media but administration and police have turned blind eye but now investors are gathering before the of Wasankar Group and Satvik Financial Services Ltd. offices and crying for money but they are finding helpless as administration has turned blind eye to this scam earlier too , last month Sameer Joshi has dumped innocent investors around Rs.240 crore earlier that one Pramod Agarwal has dumped thousands of investors to tune of Rs 100 crore on the name of Mahadev Land Developers and Ullas Khaire had dumped around 1 lakh people of Rs 1,100 crore and now this Wasankar Group and Satvik Financial Services Ltd.likely repeat the same story hence we are urging Mah. CM to initiate action under Maharashtra protection of investors deposit act 1999 (MPID) against Wasankar Group and Satvik Financial Services Ltd. Promoters so that innocent investors hard earn money is protected ,Kishore Tiwari added.
Courtesy:
Published On: Wed, Dec 11th, 2013
News Today | By Nagpur Today
http://www.nagpurtoday.in/maharashtra-legislators-urged-to-raise-rs-2000-crore-shreesurya-wasankar-satvik-scams/

Satvik Financial Services defaults on payment; Dhake clarifies stand

As the dubious estate of ponzi schemes running with the lure of handing out high returns started to collapse, the investors have become wary of parking their funds into every other organization, especially those promising them high returns. After Shreesurya Scam and Wasankar Wealth Management defaulting hugely on payment, city’s another firm Satvik Financial Services Private Limited running its office from Bharat Nagar has come under the clouds for not paying to his customers as per the promise he made in his promissory note. The company has been operating its deposit schemes under its arm Satvik Investment.

“Forget the monthly interest, we are now running from pillar to post to get our principle amount and now he has even stopped responding to my calls,” lamented an investor who had parked Rs 5 lakh into his scheme on April 26, 2013. He was promised the monthly return of Rs 25,000 beginning 30 days after the execution of the promissory note. However, till date neither he received any interest nor his principle amount. The concerned investor has been going through the tough time following up the company’s Chairman Amol Dhake who reportedly floated the amount into other avenues. He also provided the post dated cheque (dated July 26, 2013) as the guarantee against the deposit. However the cheque has bounced twice for the lack of sufficient funds in the account.

“Dhake had been pestering for the investment through one of his mediators for a long time. I shelled out Rs 5 lakh for which I had to earn Rs 8 lakh as there is a 40% deduction on the earnings in the country i work. When I came to Nagpur I was given the promissory note and the guarantee cheque. He had promised the amount of Rs 25,000 till the maturity of the amount. However till this date, I have not received a single rupee from his side. He has even stopped responding to my calls now, nor he is giving any word as to when he would return my money.”

One of these investors had even sent him the lawyer’s notice but he did not receive the notice.

Another investor has invested Rs 2 lakh and facing the similar trouble. Then there is a builder who had invested more than one crore rupees.

Dhake in his promissory note, a copy of which is in possession of Nagpur Today, has stated that he has taken the money as unsecured loan and is not abided by SEBI, RBI, NBFC and any other government bodies’ rules and regulations.

When Nagpur Today contacted Amol Dhake, he said, “There has been a trend in Nagpur to give money on the basis of trust. I do not have many such investors who have handed out the money to me for investing on this basis. There were some revenue restrictions due to the dollar pressure due to which there is some delay but I will pay all of them in the next 2-3 months.”

When told that he was not responding to any of the investors’ call, he denied doing so adding that the investors could have come to me if there was any problem. “I am very much accessible,” he said. Upon the payment default, he said, “The avenue in which I have invested the money for the concerned investor might have reported loss due to which I could not pay money on time but it is not that I will not pay. I will certainly pay them back.”

When asked if he was authorized to collect such a huge deposit without any authorization from SEBI or RBI, he clarified that the mode of investment which he had invited does not fall under the norms of both the governing bodies as it was done purely on trust.

Meanwhile, the investors were not willing to buy Dhake’s theory and hit the panic button. “Similar assurances have been given in the past too but no substantial results have come across. Now we are considering approaching Economic Offences Wing for help,” said one of the investors.
Courtesy:
Published On: Wed, Dec 11th, 2013
Featured News / News Today | By Nagpur Today
http://www.nagpurtoday.in/after-shreesurya-dhake-clarifies-stand/