Fraud against 30 Thousand people

c.b.i. investigation is must in this matter!

whether any fir is lodged. 

what is the role of police and other official of the state government in this rehard.

We do understand, but the CID is taking too much time to solve this. At first they gave 8% per month on investments, but later the company said after the office repoened in Sep 2010, that they will only give 1.5% per month on their investments. The investors accepted that but actually they didnot even gave them that.The State Govt said they cannot do anything in this matter as it is under ROC(Registrar of Company).

Sir, I worked in this company as an employee and I really wanted to help the people in distress,what can we do now.  

The Department of Company Affairs has a Serious Frauds Investigation Department. Let all the aggrieved people lodge a collective complaint or at least individual complaints with this Department. You can help the team with relevant details to trce the culprits and also the list of properties to be attached for recovery of the illgotten money from the culprits. for details of the SFIO, go the Registrar of Companies - visit their website mca.gov.in 

Vaasudevan

Try to collect full details. Being a company they have to file details with registrar of Companies. You can approach the registrar and collect details regarding the names and address of the Directors. From their balance sheet filed with the registrar you will get more details about the company's financil position. File a criminal complaint. You can file a private complaint also against the Directors .

@ Author

I totally agree to Ld. Vasudevan sound advise. A collective complaint against the company will help with one common Ld. Advocate representing these 30 K aggrieved citizens.

Thanks Mr. V. Vasudevan & Mr.P.K.Haridasan for your precious opinion. I'll surely try to convince the people to make it happen. 

Good advise by MR. Vasudevan.

In case, you have made all efforts with the concerned authorities and out come has come up. file a writ of mandamus against the authorities for intiating action against the company. 

Sir,

        We were trying to resolve the matter but the company is trying to start a new fraud with us. They are trying to take away the certificates from us by saying that they are going to start a new business on MLM business.They will convert our certificates into the new policy under Rubistar Real Estate. I would like to know is this legal? Should we collectively report to ROC?

A bunch of agents is helping the company and trying to stop me/us. What to do?

The company should be registered with RBI as NBFC. A complaint to RBI can be made, in addition to registering FIR.

However, I think we all should learn to be aware. Anyone offering 8-10% or higher returns per month is not thinking of returning the principal!! We read about such cases in papers everyday....yet we do not learn.....Awareness is the only answer!!

Thanks all who helped me in the fight against Rubistar Marketing. According to your advise, I made a complaint to The Ministry of Corporate Affairs, ROC. They had sent a notice to all of the company directors of all the functions & assets of the Company. Now, a lot of aggreived investors are ready to made a joint complaint to the appropriate agency. Can you please trll me where shoud we go now?

As far as i know , SFIO is the most effective solution for your problem. Try to make the application to the SFIO. I hope your efforts bear fruits as early as possible.