Friday, November 23, 2012

N mart fraud CMD Arrested : FIR in Hyderabad, Arrested in Gujarat, Bail at Maharashtra

N Mart CMD Arrested

Hyderabad: Andhra Pradesh police arrested Gopal Shekhawat on the basis of complaints of fraud against the nation’s leading retail Chain owner of N-Mart on Tuesday morning around 11.30 in Bollywood style. Gopal Singh Shekhawat was with his wife at the time of arrest.

Later by road he was taken to Mumbai from Surat. As per N Mart’s management office located in Surat, Gopal Singh Shekhawat was presented in Mumbai local court where the court has released him on conditional bail. After hearing the news of arrest whole N Mart associates were in confusion and chaos but late in the evening after the news of his bail spread, everyone was in sigh of relief. Due to this new development, Hyderabad police could not take him to Andhra Pradesh.

On Tuesday morning with his wife, Gopal Singh Shekhawat went to a local area hospital for a regular check-up. When he came out of the hospital with his wife, the Andhra police surrounded them in filmy style and took them away. His driver opposed them but could not do much. The way the whole incident took place many presumed that Gopal Shekhawat has been kidnapped. The moment driver realised that, he immediately reported the information to their families.

later the case was reported to the Surat local police. The local police registered a complaint against Hyderabad police because they did not inform them in advance as per given law. After this Andhra Pradesh realised their mistake and immediately faxed was sent to Surat Police.

N Mart CMD Arrested

Andhra Pradesh Police especially Guntur, Vijayawada etc have claimed notoriety
in getting Businessman arrested, Pearls, RMP, PACL, now Nmart. You can't
treat Directors of the company in such rash manner. You have to
consider his lawful business. This gentleman though running an MLM has
also a chain of retail stores. There can be a mature way of allowing him
to repay his deposits if found wrong by regulators/agencies like SEBI,
ROC, RBI. But like always the AP police believe that they have a free
jurisdiction in the entire country. Its high time the AP police observe
the law and act accordingly. In matters of deposit mobilization can the
Police have overriding arbitrary authority and be selective. Could they
arrest the Directors of Sahara group even when RBI, SEBI, ROC have
called their operation wrong. The AP police must follow the law

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