Lucknow realty firm booked for cheating

LUCKNOW: A real estate company was booked by police for cheating investors on Wednesday in Gomtinagar. Delhi-based investors who had put in several lakhs of rupees into schemes floated by Persist Real Estate Private Limited approached Vibhuti Khand police station earlier this week.
After probing their allegations, a case under sections amounting to cheating and others were registered on Wednesday.Sub-inspector Pankaj Singh, in charge of the Vibhuti Khand police station said the key persons running the firm, including Rajesh Rathore, Rama Devi, Mohammad Nadeem, Himanshu Parihar, Ritu Parihar, Veer Bahadur Singh and Mukesh Kashyap had been booked.
To trap investors across the country, the firm lured with substantial returns on amount invested. Delhi resident Manoj Kumar and three more investors from the national capital approached cops to complaint about the firm. Singh said the investors met Nadeem early this year at their office located on the 6th floor inside Shalimar Titanium Tower at Vibhuti Khand and made payments. The firm provided a cash receipt under the name of Tisca Holding (Private) Limited and guaranteed at least 10 per cent return every month.
After five months, the firm stopped making payments. Kumar’s phone calls were not entertained and key management of the company refused to meet him when he came to Lucknow. Nadeem later told him that the firm was suffering severe losses and will not be able to pay back. He was later roughed up and shown the door. Attempts to reach Rathore or Nadeem, the key individuals running the firm, went in vain and their phones were switched off.
Moreover, circle officer of Gomtinagar, Vidyasagar Mishra had summoned a director of a real estate company based out of Vipul Khand, Gomtinagar for questioning. The firm had been offering homes and plots to investors without acquiring land or getting their maps sanctioned from concerned authorities.