Police seize two offices of Bhavishya Credit Co-operative Society


Police seize two offices of Bhavishya Credit Co-operative Society

In a series of nationwide raids conducted on the offices of Bhavishya Credit Cooperative Society, two centres of Bhavishya in Udaipur were seized by the police today.

 
Police seize two offices of Bhavishya Credit Co-operative Society

In a series of nationwide raids conducted on the offices of Bhavishya Credit Cooperative Society, two centres of Bhavishya in Udaipur were seized by the police today.

This action was taken by Bhopalpura police station after receiving a number of reports by investors against the Society, of non-payment of their dues.

Ratan Chawla, Circle Inspector of Bhopalpura Police Station informed that today two offices of the society, one at Mehta Sadan and the other at Durga Nursery road were seized and investigations have started.

Police seize two offices of Bhavishya Credit Co-operative Society

Police acted on a complaint received by Rajveer Singh Shaktawat, one of the employees at Bhavishya. Rajveer informed that he has been working with the society since 2011 and within 4 months of his joining he was given the position of Branch Manager and in next two years he was promoted to the position of Area Manager.  However from September 2013, salary of all the staff members (around 80 employees) stopped and from the same month the investors also stopped getting their returns.

The annoyed investors of the society, on probing into the situation, discovered that the senior management of the Society have committed fraud with them on the name of investing their money – subsequent to which they approached police.

Police seize two offices of Bhavishya Credit Co-operative Society

Rajveer also informed that there are around 230 offices of the Co-operative Society in the whole country with around 40,000 members who have invested their money with the Society.

Six offices of the Society at Udaipur are located at Sarafa Bazar; Sector.11 and Sector.4 of Hiran Magri; Sunderwaas; Fatehpura and Mehta Sadan. Rajveer also informed that the Society was having different properties – one at Bhoplapura that was sold at around Rs. 5 Crore, one at Kesriyaji that was also sold in Lacs and one at Kurabad.

Rajveer himself has invested a big amount of money in the society.  Four senior officials of the firm are on the run since the case came to light.

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