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Pincon scam: Rajasthan SOG arrests shell company director

Press Trust of India  |  Jaipur 

The Police's Special Operations Group (SOG) today arrested the of one of the six shell companies formed by Kolkata-based Pincon Spirits Limited, a said.

The group had formed six shell companies, including LRN Universe Producers, to allegedly dupe Rs 1,000 crore of 4 lakh investors, Additional General of Police (ATS-SOG) said.

Director, LRN Producers, was arrested today and produced before a from where he was sent in five-day police custody, he said.

In November, a team had arrested five people, including the CMD of Pincon Ltd, Manoranjan Roy, and from Kolkata, the said.

The of the company, Raghu Shetty, his were arrested from and respectively, Mishra said.

He said that investigation into the case revealed that had spread its network to 10 states and in as well.

In May 2017, the company had released foreign currency convertible bonds (FCCB) worth for Rs 30 million dollar capax at the Stock Exchange, Mishra said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 11 2018. 21:30 IST
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