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Dear Friends,

I am unfolding the events as it has happened since November 2009 in Delhi.

1. Shortage of stationary - Axis Bank, Lajpat Nagar Branch is not supplying enough stationary (Reason not known, may be the SOSN might have come to know of same series print, Axis Bank had not given any satisfactory reply)
2. Cheque bounced of quiet a number of Investors - Action taken - Axis bank, Lajpat Nagar Branch blamed for same series issue of cheques & fraudulent withdrawal by someone (Photocopies of same series cheques pasted in office) prompt service - dishonoured cheques deposited ECS done with in 10-15 days)
3. Press Conference held on 17th November 09 - Axis Bank blamed in media with copies of same series cheques shown to media. Also Public Notice in SOSN website placed.
4. All investors through a Notice in News paper and other ways informed to submit postdated cheques issued to them - Investors given unclear picture of ECS dates some told 10th December others 20th and many 25-30th December 09.
5. Many were not been able to get the information as they were staying in far flung areas and also there cheques in November not bounced - luckily mine cheques were dishonored and I got to know.
6. 10th December 09 - ECS not started & cheques of various investors bounced even of statesman Hs Branch - Investors panicked flocked to offices to know details. No senior person to handle situation No information from Head office.
7. 11th December 09 - Office closed - Investors blamed for disturbing office, Office expected to open on 14th December - meeting on 13th sunday of employees Delhi Office no clear decision of opening office 14th office still closed - every one in dark. Every one in panic.
8. Information on 14th that there will be Press conference on 16th Investors informed via sms by employees.
9. Spoken to Mr. Roopesh Verma on phone on 14th He said not to panic office will be opened at the earliest after the Press conference & ECS will start it delayed because of DATA blocked in Delhi office.
10. Many Investors reached PCI - too much crowd - police was informed - Media started interviewing people for some breaking News (sansani khej news), Investors reacted negatively - some positively - Many journalist took questions from the public to be asked inside.
11. Police came with CRPF tried and managed the crowd, Mr. Roopesh Verma came on time went inside the PCI-club, came out in 10 mts wanted to speak to Investors, No management - 2 ladies created ruckus & shouted "Maro maro hato mai chudia pahani hai kiya" public panicked - commotion took place, police took Mr. Verma in preventive custody to save him from the public.
12. Those 2 ladies told the crowd to go to police station & file complaints (somebodies apprehensions are they were from Bank). I asked one of the ladies how many schemes she has & in which option - she was not able to reply properly - it seems she was not an investor.
13. Some people were able to get Press release copy I was able to study one (though not able to procure it) and it was clearly mentioned about same series of cheques issued to some ttk co. & SOSN and again fraudulent withdrawal happened in Banglore Axis bank branch on 10th December 09 irrespective of clear instructions by SOSN to inform them immediately about duplicate series cheques to nab the culprit and SOSN has to stop payment & also have to delay ECS through Axis bank & planned to do it through other bank.
14. Spoken to few journalist who were coming out of PCI club they told those 2 ladies had not allowed Mr. Roopesh Verma to speak in the Press conference and Mr. Verma has said that he is will be giving returns as promised to the investors.
15. Most of the Investors were not in favor of any complaints though people went to Parliament street police station, people chose 5 representatives to go to PS & speak to Mr. Roopesh.
16. Too many people wanted to speak to Mr. Roopesh - Police didn't allowed to meet and told only those can meet who files complaint/FIR and claimed Mr. Verma has said he will not give money to anybody (can he say so sitting in PS I doubt), Nobody was able to meet him.
17. Some lawyers took advantage of situation and pressurized 2 investors to file FIR telling them they will not get there money & Mr. Roopesh will run away. Finally by 8.30-9 pm complaint was made & Mr. Roopesh Verma arrested.
18. Employees felt leaderless as no information - Delhi office sealed - police investigation begin 2.14 Cr cash (many investors deposit scheme amounts in cash in Delhi office & 5-6 franchisee centres in NCR) with good no. of gold coins (kept to be given to investors under various schemes) was found, police disclosed to the court.
19. Bail application made on 19th December 09 rejected by court because police said that the investigation has just begin.
20. Every one clueless few employees responded all offices except Delhi open people submitting their documents for ECS & waiting ECS to start early, support provided by all offices.
21. Situation got out of control as everyday thousands of Investors calling all offices for information though employees have assured investors that as soon as Mr. Verma gets bail ECS will start as all financial powers lies with him only (Mr. Verma cannot do so because he is stripped of all executive powers being in Police custody or till the court permits).
22. SOSN got in tie up with IDBI, IOB for ECS but Accounts of the co. frozen - now nobody can take any money out nor deposit.
23. Mumbai office sealed by EOW/Police and panic spread as everyone alongside investors even employees clueless (many of them invested what they have earned from SOSN & even got their friends & relatives amount deposited).
24. Media claimed SOSN/Mr. Verma owns 10 hotel/resorts, good no. of car & vehicles, good money in crores in various a/cs, most offices of SOSN & properties in various places (I believe it was expected as the scheme were of cars & resorts) also they had sister concerns like swiss cabs, shree cine vision, shree resorts etc.)
25. Investors met Mr. Verma in Tihar jail He assured them he is ready to give investors their dues only if he gets bail and he had not done any fraud (one has to have his own funds, property & guarantor to get bail)
26.some investors filed complaint in Jaipur, police took him to Jaipur. Jaipur media claimed Mr. Verma was absconding (sansani khej news).
27. In jaipur also he told he is ready to give dues to every investor but got JC till 8th Feb.
28. Bail application was put up on 28th January 10 not attended Delhi court as was in Jaipur result no bail again same thing happened on 30th Jan & 5th Feb 10.
29. Delhi Court has asked Mr. Roopesh to submit the details that how is he going to make payments to Investors. Which means he will be giving everything in writing to court thus saving & taking care of investors interest. The court can also centralize all complaints/FIR filed across other cities like jaipur, lucknow, banglore etc & can direct all complainants to represent their case in Delhi for faster decision.
30. Many investors from across india met him in Jaipur, He had categorically have mentioned he has not done any fraud & he wants to give money back but he is looking forward for support from investors. His lawyer has made a proforma for affidavit of support which mentions that one supports him only if he gives returns as per contract/agreement for rest of the period.

All Investor friends those who have filed a complaints, those who are in process of filing complaint or those who have not filed any complaint and also those who wants to give affidavit of support & even those who are neutral; I can only say one thing that we all today are victim of circumstances but together we all have to decide our future course of action, which could be

a) We wait for the judicial system to take its own time & give us verdict.
b) We impress upon the court that our motto is of running of SOSN & get our money back as promised in the contract/agreement.
c) We make some out of court settlement & get our money back may be through sale of SOSN assets or by any other better means.

Decide yourself

An Investor with very limited means