scorecardresearch
Follow Us:
Thursday, October 21, 2021

GBP Group investors protest, demand arrest of owners

The investors gathered at the site of the Athens Housing Project that was being developed by GBP Group. Recently, Zirakpur police booked four promoters of the group for the alleged fraud, however, the accused have not been arrested yet.

By: Express News Service | Mohali |
September 27, 2021 2:37:42 am
The investors alleged that the banks are also in hands-in-glove with the owners of the company, as the banks kept charging the EMIs but failed to keep a watch on the private firm owners.

Hundreds of investors of GBP Group gathered at the project site of the private housing company in Zirakpur on Sunday and demanded the arrest of the promoters of the company who have allegedly duped hundreds of people to the tune of several crores.

The investors gathered at the site of the Athens Housing Project that was being developed by GBP Group. Recently, Zirakpur police booked four promoters of the group for the alleged fraud, however, the accused have not been arrested yet.

Gulshan Bansal, one of the investors, said that he had invested in the project in 2016 and was to get the possession of his property in 2019, but it never happened. He added that most of the investors who gathered at the site on Sunday had paid around 80 per cent of the total amount.

Arvind Rana, another investor said that most of the investors worked in private companies and had to pay EMIs as well as the rents, and many of them have been facing pay cuts due to the pandemic. “We had been trying to contact the company for the past 10 days but were not getting any response, most of the investors who had come to the protest on Sunday had invested in Athens project, but now we are also contacting the other investors who had invested in other projects of the company,” Rana added.

The investors alleged that the banks are also in hands-in-glove with the owners of the company, as the banks kept charging the EMIs but failed to keep a watch on the private firm owners. The investors alleged that the banks kept giving money to the owners of the GBP Group.
The company allegedly fled after duping hundreds of people. It also closed its offices at Derabassi and Zirakpur.

Zirakpur police has booked the owners of the company on charges of criminal breach of trust and cheating.

Security staff make way for thieves

As the owners of GBP Group had allegedly fled after duping the investors, the company’s offices in Zirakpur were abandoned by the security staff. Thieves stepped in and took away the furniture and construction material. The Zirakpur police found that some people were trying to flee with some items which they left in the fields.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Chandigarh News, download Indian Express App.

  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
Advertisement
Advertisement
Advertisement
Advertisement