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This is an archive article published on September 21, 1998

Shetty Leasing accused of cheating depositors

BANGALORE, September 20: Bangalore-based Shetty Leasing (India), a finance company, which had been barred by the RBI from collecting publ...

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BANGALORE, September 20: Bangalore-based Shetty Leasing (India), a finance company, which had been barred by the RBI from collecting public deposits of any kind in 1993, has been accused fo cheating depositors to the tune of crores of rupees. Gullible members of the public, who had been lured into investing in the company, have not been paid back their fixed deposit amounts, which matured as far back as 1993 and 1994, according to a complaint lodged by depositors with the Jayanagar police.

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