[Resolved] Virtual Academics Ltd — Beware !!
Misty Abacus & Virtual Academics Ltd are managed by the same set of people !!
1st Floor, Diamond Business Centre, Sahara Star Hotel, Near Domestic Airport, Santacruz (E),
Mr.Imran Khan - [protected] (Responsible for Admin and HR)
Mr. Avinash - [protected] (Responsible for Admin)
[protected] - Unknown person from same company
Dehradun Office: Tagore Villa Dehradun
Follow this link & you 'll find out details:
Try n avoid any kind of association with
Future News Pvt. Ltd
& others mentioned in trailing piece of information:
The economic offences wing (EOW) of the mumbai police is investigating a con job spanning five states over nearly three years and involving at least six Men and a woman who cheated 25 news publication of advertising revenue amounting to more then Rs.6 core and bankrupted several accredited advertising agencies. The size of scam be came apparent as investigators probed deeper after the first arrest by the eow on January 24 kriashan Mohan and alok dalmia are presently judicial custody charged with cheating forgery and creating false document five others are named in the case Prafulla verma mukesh chopra vibhay agrawal Anjani Ray, Jayswal and Ankita mohan all five are on the run there are similar complaints against the accused register at oshiwara police station said additional commissioner of police (EOW) SV date the economic offences wing got involved after A Dadar based agency filed a complaint with us investigations are in progress “
The EOW has found that accused had started their operation in mumbai a year before ad operating out of make shift office in oshiwara and Andheri
According to EOW and Indian news paper society (INS) official the seven accused took advantage of the 60 day credit facility that news papers and magazines offer to advertising agencies which are accredited with INS the accredited agencies also received a standard 15 per cent commissions from the newspapers on the total bill
The EOW probe has found that accused forged relationship with mid-size accredited advertising agencies across mumbai, suburbs claiming they have established network which will ensure they got bulk business from non accredited agencies as they enjoy 60 day credit facility
The accused also promised a higher commission –25 per cent. In all cases the bait was advertisement assignment for up coming resort apparently being developed by a company GSM private limited the accused claim to have floated as the accredited agencies prepared advertisement for the resort they were given bulk advertisement for the others services and companies these advertisement got published in the newspapers. The accused would collect the money from the clients (companies) or non-accredited agencies but not pass it on to the accredited agencies. In turn the accredited agencies are unable to PAY the newspapers many agencies went bankrupt and lost their accreditations say ins official adding that by the accused bounce they have left the scene according to pawan chopra Secretary general INS new Delhi at least nine reputed accredited agencies across country were served with noticed of disaccreditation after they failed to clear the outstanding credit. He said the loss of ad revenue to publication is over 6 crore
The scam according to INS credit monitoring records seems to date back 2004 when chandigarh based agency Mohit advertising floated by director Prafulla verma and shikha verma ___ defaulted in the payment of tune Rs.1.4 crore. And with that starting defaults in the payment to leading newspapers by accredited agencies across north India who alleged that they had been cheated by Prafulla verma and Krishna Mohan in one instance Mohan introduced himself to Delhi based kolson advertising whose clients include Akai, Videocon and kinetic
The accused allegedly offered to buy the agency and the meantime got it to release advertising worth lakh through them. They also convinced the firm to open a branch in mumbai as they promised business from new territories
The advertisement were placed the client’s payment were collected by Mohan but the money never reached to kolson finally at the time of payment to the tune of Rs.3.7 crore to the newspapers. Mohan had fled
Another agencies in Patna suffered huge losses after Gold Diggers an agency floated by Mohan field with lakhs. According to ins official they keep switching identities so every time they float a new company there is planned pattern that follow to dupe agencies”
The bail application of the Mohan and Dalmia will come up for hearing tomorrow in the city court
Was this information helpful?
Aug 13, 2020Complaint marked as Resolved
Add Company Information