13 Aug Andhra Pradesh-based Bitcoin firm in Rs 200cr fraud row | Vijayawada News
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HYDERABAD: The Registrar of Companies (ROC), under the ministry of corporate affairs, has issued a notice to Bitcoin India Software Services Ltd in Andhra Pradesh following large-scale complaints that it had collected over Rs 200 crore from investors and duped them.
The Prakasam-based company had collected money from depositors in AP, Telangana, Delhi, Uttar Pradesh and a few other states. The ROC stepped in after Chittaranjan Shah, a resident of Sanjay Colony, Bhatti Kalan, New Delhi, filed a complaint against Bitcoin India charging it with fraudulently transferring money from his freecharge wallet into its ICICI bank account.
ROC, during its initial investigation, found that the company had not furnished annual reports or balance sheets though it had come into existence in Oct 2014. The company had even failed to reply to an ROC notice, which was served in July last week.
Directors of the company — Sykam Ramakrishna Reddy and Sykam Sreemannarayana Reddy — were also served…
The Prakasam-based company had collected money from depositors in AP, Telangana, Delhi, Uttar Pradesh and a few other states. The ROC stepped in after Chittaranjan Shah, a resident of Sanjay Colony, Bhatti Kalan, New Delhi, filed a complaint against Bitcoin India charging it with fraudulently transferring money from his freecharge wallet into its ICICI bank account.
ROC, during its initial investigation, found that the company had not furnished annual reports or balance sheets though it had come into existence in Oct 2014. The company had even failed to reply to an ROC notice, which was served in July last week.
Directors of the company — Sykam Ramakrishna Reddy and Sykam Sreemannarayana Reddy — were also served…
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