By Pradeep Nambiar
Ponzi company, Star Visionery Multitrade P Ltd, under investigation
The Ministry of Corporate Affairs has issued notice to Star Visionery Multitrade P Ltd. The Company has been asked to give details of all deposits collected in any form and to show the permissions if any given by the Government.
Mr Bang , Asst ROC-Mumbai has show caused the company , saying ” Attention is drawn to rule 2(c)(xii)(a) and 2 (c)(xii)(b) of the Companies(Acceptance of Deposits) Rules, 2014 and you are directed to explain why tha amounts so collected from various investors should not be treated as deposits under Companies Act, 2013.
The Investors Association is also moving the Police to press charges under Prize Chit Money Circulation Banning Act-1978