Guwahati, Thursday, December 13, 2012
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Cheating by fraud financial firms on rise
 BISWANATH CHARIALI, Dec 12 – People in northern Assam have expressed grave concern over the increasing number of incidents of cheating by fraud financial and non-banking institutions in the recent past in Sonitpur, Lakhimpur and Dhemaji districts.

Although a good number of such institutions have fled from the scene after appropriating huge sums of money, it has been observed that such institutions are still running their business.

Neither the civil administration nor the police it is alleged, have taken any action against such institutions, despite repeated pleas made by cheated persons.

At present, around 70 such institutions including Heritage India, Jeevan Sanchay, Jeevan Suraksha, Bandhan, Luit Valley, Seva Real Estate, Asia Real Estate, Jina Marketing, Asomi, Prayag Plus, Swaraj Jeevan Bima and Aastha have been collecting huge amounts of money from people through agents everyday. They entice the unsuspecting people, particularly in rural areas, by offering better interest rates.

According to reliable sources, a group of four or five persons form a company and then get it registered with the NE Divisional Office of Companies Registration based at Shillong under Companies Act, 1956. After completion of all these formalities, they start their so-called ‘non-banking and financial’ institutions.

It may be mentioned here that the Gauhati High Court in an order in 2009 had asked the State government to take stern action against such institutions so that they could not rob the hard-earned money of common people, but it is alleged that the concerned agencies have failed to take timely action against them. As a result, the offices of such companies have been vanishing over night from Sonitpur, Lakhimpur and Dhemaji districts for the last few months. AASU, AJYCP, AAMSU etc., have demanded closure of such institutions.

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