Logistics co cheated UK firm of Rs 45 cr
A UK-based company filed an FIR against a Bengaluru logistics firm for cheating. They claimed that they were promised a minority stake in the logistics firm of Rs 45 crore and good returns on investments but they got none.
The complainant, A A Development Capital, approached the Economic Offences Wing (EOW) with its complaint and registered an FIR in N M Joshi police station.
Bengaluru-based Siesta Logistics Corporation, a subsidiary of the Siesta Group, had sold a minority stake to A A Development Capital in December 2010, said the police. Siesta’s chairman and managing director Ashok Chattaraj and his wife Rajni Chattaraj, who is also the company’s director, have been booked under the FIR.
The accused firm had allegedly promised the complainant that they would be opening offices with that money in UK, US and South Africa. “The venture failed and Siesta did not follow the agreement. They did not return any money to the UK firm so the advisor Raghav Kapoor approached us to register the FIR,” said V D Dorugade, police inspector at EOW.