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The Delhi police on Friday informed the Delhi High Court that it has lodged an FIR to probe into the allegations that the Religare Securities Ltd and its officials allegedly duped a large number of investors.

 Appearing before Justice A K Pathak, the Delhi police counsel said the economic offence wing (EOW) has registered the FIR on July 17 on a complaint by an investor, Sachin Bhardwaj.

 The counsel said the FIR was registered against the firm Religare Securities Ltd and its two employees, including a branch manager, under section 420 (cheating), 467 (forgery) and various other sections of the Indian Penal Code (IPC).

 On the police submission, the court disposed of the matter saying “the purpose of the petition is served.” The court was hearing Investor Protection Group’s plea, which had alleged that Religare Securities Ltd and its officials had cheated and defrauded its investors and had sought a direction to the police to take legal action against them.It alleged the company and its officials were involved in the offence as they were involved in illegal and unauthorised trading without instructions from the clients.

 Religare took the customers’ signature in registration booklet, containing 60-70 pages, without taking their express consent. The officials misrepresented facts and stated that it (signing) was a mandatory requirement, the petition said.

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MM Sundram
4 years 2 months ago
i am also affected one in this Religare fraud and presently i filed an FIR against them, HDFC bank asaf ali road, Delhi, NSDL authorities and one notary Mr Natarjan here in Coimbatore. this FIR, on the direction of the hon’ble Madras high court filed with the Coimbatore City Crime Branch/ i have sent these details to the EOW of Delhi also after hearing the large scale investors affected in the Religare fraud. hoping to get solution. crores of rupees swindled and whisked away with the illegal and unsustainable POA in collusion with the notary public who authorised the document… Read more »