[Resolved]  Shree Om Sai Nath Car On Rent — Why son/mr. roopesh verma case is different?

Why SOSN/Mr. Roopesh Verma case is different?

Ask yourself ! I know no body has complete answer. I also tried to find out but to my avail I was not able to get much reasoning, so I am only summarizing what I was able to figure out in this las t 2-3 months of the ordeal & pain.

I will start with, whether it was pre-planned?

Yes & No both all probability leads to that; if we sequence the events which one of our Investor friend has put up on[protected] in the blog: Decide yourself

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.
2. Cheque bounced of quiet a number of Investors - dishonored 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 informed through a Notice in News paper
5. Many were not been able to get the information
6. 10th December 09 - ECS not started
7. 11th December 09 - Office closed every one in dark. Everyone 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
10. Many Investors reached PCI - too much crowd - police was informed
11. Police came- Mr. Roopesh Verma wanted to speak to Investors - 2 ladies created ruckus & shouted "Maro maro hato mai chudia pahani hai kiya" police took Mr. Verma in preventive custody
12. Those 2 ladies told the crowd to go to police station & file complaints though they were not investor.
13. Press release copy mentioned about same series of cheques issued to some ttk co. & SOSN
14. Journalist told those 2 ladies had not allowed Mr. Roopesh Verma to speak in the Press conference.
15. Most of the Investors were not in favor of any complaints
16. Police didn't allowed to meet and told only those can meet who files complaint/FIR.
17. Lawyers took advantage of situation 2 investors file FIR Mr. Roopesh Verma arrested.
18. Delhi office sealed - police investigation begin 2.14 Cr cash & good no. of gold coins was found, police disclosed
19. Bail application made on 19th December 09 rejected by court
20. Every one clueless few employees responded all offices open except Delhi
21. Mr. Verma gets bail ECS will start but Mr. Verma cannot do so because he is stripped of all executive & financial 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.
23. Mumbai office sealed by EOW/Police and panic spread - employees clueless.
24. Media claimed SOSN/Mr. Verma owns 10 hotel/resorts, good no. of car money in crores in A/cs, most offices of SOSN & properties in various places also sister concerns like swiss cabs, shree cine vision, shree resorts etc.
25. Investors met Mr. Verma in jail got assurance to give dues if he gets bail and he had not done any fraud
26.some investors filed complaint in Jaipur, police took him to Jaipur.
27. In jaipur also he told he is ready to give dues to every investor but got JC till 8th Feb.
28. Bail application on 28th Jan 10 was in Jaipur jail result no bail 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.
30. Investors across india met him in Jaipur, said not done any fraud & he wants to give money back 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.

Now why one should say "Yes", It was pre-planned because:

1. Why shortage of stationary i.e cheque leaf should occur in the first place. Every bank charges for it & is liable for issuing the same. There is no clear answer from the SOSN & Bank.
2. ECS in November 09 of dishonored cheques was done by SOSN staff from Mumbai office through NEFT. Transfered through which bank not known may be Axis or IDBI.
3. There was no need of a Press conference to hype the issue between SOSN & bank in the first place.
4. Along with the Notice in the newspaper, why SMS, Calls or other medium of communication not used.
5. SOSN should have started the ECS on 10 Dec 09 itself & investors would have waited for the same.
6. SOSN should have done the Press conference after they have started ECS.
7. Were those 2 ladies planted by SOSN or bank.
8. How come Lawyers were already there & were distributing there cards to file complain.
9. Why Mr. Verma was not allowed to meet Investors by the police.
10. Why the complaint/FIR had not carried the Name of Mr. Amit Verma, Mr. Sumit Verma, Mr. Sanjeev Srivastava, Mr. Mohit Verma, Ms. Garima and other senior employees on the first place.
11. The investors were only interested to hear from Mr. Verma that when he will start the ECS still he was not allowed by police, were they already in hand in glove.
12. Every body knows if the offices are kept closed Investors will panic why efforts were not made to open the delhi office at the earliest, was it to invite large public to PCI & create riot like situation so police can act.
13. Why Mr. Amit Verma, Mr. Sumit Verma, (both have already resigned from the board of directors position from Sosn in September 09 and are running their own companies) Mr. Sanjeev Srivastava, Mr. Mohit Verma, Ms. Garima and other senior employees are not coming in public & trying to help investors they should also surrender & go to jail to show solidarity with Mr. Roopesh Verma.
14. Both the Mujrim & Nirdosh says the same dialogue Ki "Judge saab Mai Nirdhosh hu". Issi tarah Mr. Verma says I am ready to pay all dues to the investors. Ab woh Nirdhosh hai ki mujrim yeh to time will tell.

Now if we say "No" we are victim of the circumstances because:

1. The shortage of stationary must have prompted SOSN to shift to ECS.
2. There has been solid proof of same series duplicate issue of cheques as copies given to press & court and also original submitted.
3. Through the duplicate same series cheques some bank employees have masterminded the withdrawal & indeed some cheques got bounced & they were promptly forwarded for ECS & cleared by SOSN.
4. SOSN suddenly planned to shift to ECS but had not planned the management (the process of any ECS is same as followed by SOSN) based the ECS through Axis Bank only.
5. Axis Bank falters on 10 dec 09 says to clear their penalty dues from SOSN first, stops payment clearance to any investor (The SOSN a/c was having an "funds under clearance" line on 10th Dec 09 on the axis bank internal server/website i.e. bank arm twisted Sosn to get their own money first)
6. Sosn not able to handle the same on war footing Investors panicked create problem in Delhi & other offices. Offices closed more problem, No communication employees in dark.
7. Many investors spoke to Mr. Roopesh Verma on phone, He pacifies them & says he will give money to everyone & was perturbed because of disturbance in Delhi & other office. Even few investors have gone to Mumbai & have met him personally on 12-13 Dec 09 & were satisfied with his replies & have seen copies of letter send to Axis bank.
8. Mr. Verma came on time for press conference - wanted to speak to Investors, 2 ladies created ruckus (people say they were from bank) - commotion took place, police took Mr. Verma in preventive custody.
9. As per vague information, the lawyers & the police together had tried to make a deal from Mr. Verma to save him from the custody by extracting from him a large amount which he refused otherwise why police didn't allowed him to come out & speak to investors when their was no complaint/FIR against him.
10. There were only 2 complaints which were lodged due to lawyer’s pressure. One of our investor friend was in constant touch of one lawyer who was distributing his cards and was pressurizing/motivating investors from 3.30 pm till 9.00 pm on 16th December 09 to file complaint & our friend made 20-25 calls to him when he has gone to PS & he always said “mai Roopesh verma say batchit kar raha hue or solution nikal raha hue” But later we came to know he was in forefront to get advantage of the situation and he is one of the lawyer for the complainants.
11. Press release copies which some journalist & investors had got clearly mentions same series cheque leafs issued to ttk co. & Sosn by Axis Bank. The news was covered by prominent web based news & other media.
12. Axis bank has neither denied nor accepted the charges leveled by SOSN till today all efforts by investors only indicates that there is something fishy. Axis bank has the largest nos. of complaint regarding over charging, wrong charging, withdrawal, deduction, mistakes, error regarding with the money of account holder in consumer websites.
13. One Investor has written about axis bank in his blog the following:
“Coming back to Axis Bank they have neither approved nor denied their role in the fiasco till today (If someone knows please apprise). Even my attempt to get answer from a Branch Manager of an nearest location did not yield any concrete results, he only started blaming SOSN and said such company always bust/runaway when they are not getting investments which I told him that till November end there was huge flow on investments across India (I myself has deposited good amount) and when I asked him very particular question like; Why then they opened SOSN account if they know the co. is going to run?, Why there was a problem crated by Axis bank in giving stationary to SOSN when SOSN pays for every cheque leaf? Why they have not suggested SOSN for ECS earlier? Why there was same series no. cheques issued to 2 companies?, Why they had not checked the A/c number of that company while clearing? Why directions (if) any given by SOSN on clearing of cheques was not followed? How the fraudulent withdrawal took place in Delhi & then in Bangalore (as claimed by SOSN in their Press release)? When there was a message of funds under clearing on 10 December 09 Morning and why funds didn't got transfered the whole day in SOSN a/c so they could be given/transfered in Investors a/c?, Why Axis bank want to loose such an esteemed client with such large amount being deposited by it through which the bank has money earning? but I was sidelined on all the questions; though I don't blame the Manager/Bank for sidelining my questions and I am not an authority as well! but as an Investor loosing so much money and all current earnings, present & future financial safety by anybodies fault is too much to bear. I even said that there could be suicide attempt by me he said casually all my money has now lost. There seems to be some tiff between Axis bank & SOSN.”
14. Now everyone knows that Mr. Verma cannot give money to the investors because he is stripped of all executive & financial powers being in Police custody or till the court permits also No directors, staff & others are authorized to clear any doubts/questions/details at this moment as it will be breach into courts/police/eows jurisdiction & will jeopardize Mr. Roopesh Vermas bail/release.
15. 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. Mumbai & other office sealed by EOW/Police so no staff can work or give information. SOSN as per Media/EOW report has 1780 luxury cars, 24 crore cash, 24 co. bank account, 10 hotels/resorts across country & co.s like Sai Cine vision, Sai construction co., Swiss cabs, Shree Resorts, Sai Airways (planned) + planning of right issue/IPO. etc. and per month income of 10-15 crores from the above companies.
16. Which now has been proven as Mr. Dharmendar Arya has submitted Balance Sheet, Profit & loss A/c (Audited as per Governments requirement) of last year & Advance payment of Tax 09-10 (September 09) to the court which has net worth of more then 300 crores & surplus cash flow to take care needs of investors payment. Even they have pm turnover of 10-15 crores from resorts, car rentals & allied business.
17. Mr. Dharmendar Arya (Lawyer) has already presented all the sequence of incidence happened in court which has lead to the unneeded arrest of Mr. Roopesh Verma as a) Bank stopped giving stationary on flimsy grounds b) Issue of same series cheques by Bank c) Dishonour of Cheques due to withdrawal of high amount by unscrupulous persons using same series of cheques (copies submitted to the court) d) Press Conference by SOSN (News Clips) e) Issue of directions by SOSN to the Bank not to clear certain cheques unless & until validated/Cleared by SOSN f) Notice in the public & website to convert payments through cheques to ECS G) Details of Notice of problem because of Bank & about ECS issued in December in 60 leading newspaper cuttings submitted to court H) Press conference & subsequent preventive arrest and unreasonable complaint/FIR under pressure by Lawyers & Police by 2 persons etc.
18. Now the hearing is about Mr. Verma Bail & how will he give investors dues as on 25th Feb 10 The honorable judge has decided/guided/suggested the following:

1. Those persons who have given Affidavit of Support will get their routine returns/profit/compensation as per the contract/agreement for the balance period of 60 months.
2. Those who have made complaints will get their principal/invested amount as per the contract/agreement as specified for withdrawal of amount with the appropriate deduction, (that means if your invested amount has come back to you in 13-15 months you will not get any money).
3. Those who have not made any complaint or have not given Affidavit of Support a notice in leading newspaper all over India by the company/court will be placed for investors to decide to claim back their amount or carry on with the company and get their normal return/profit/compensation given pm for the balance period of 60 months.
4. The court is also going to give liberty to Mr. Roopesh Verma to run the company as per the earlier normal parameters of entertaining Investments & giving pm return/profit/compensation i.e. he can launch new schemes of investment & run the current scheme or both.

Now the investors decide by yourself what is your answer to yourself?

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Disclaimer. Sosn Investor Forum is only extending an voluntary service in the interest of investors and irrespective of all efforts been made to provide authentic, true and correct information; cannot guarantee the same nor does it provide any professional, legal, financial advice. It is individuals and readers own prerogative to Interpret & understand at their own level.