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Company dupes investors of crores; Police remain mum
Published on Fri, Nov 30, 2007 at 13:20 in 
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WAGING A WAR: Former Naval Chief Admiral Ramdas invested 1.25 lakhs rupees in the scheme in the hope of supplementing his pension.
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Mumbai: Fresh protests have surfaced against Suman Motels Ltd, a Mumbai-based company that is said to have duped thousands of investors.
Amongst the fraud victims is 74-year-old Admiral who he is now fighting a personal battle to get his hard-earned money back.
Former Naval Chief Admiral Ramdas invested 1.25 lakhs rupees in bonds of Suman Motels in the hope of supplementing his pension. However, that was the last he saw of his money.
“I invested mine and my wife’s money in the bonds but after the first dividend I have not received anything. It is really sad,” says the Admiral.
Surendar Khandahar, the Director of Suman Motels Ltd, allegedly duped the couple along with 62,552 other investors through as many as 12 schemes floated by him and thereby earning him a total collection of nearly 52 crore rupees. Khandahar had promised a sum of three hundred crore in return.
Chetan Kothari, another victim of this alleged fraud, has been running from pillar to post for the last six years.
“We all have been duped of our money and there seems to be no one to bail us out. It was our hard earned money and something must be done,” says Chetan Kothari.
Reports confirm that the police may well have been complicit in the racket providing the only possibly reason as to why the 159 summons and 149 warrants were never executed.
Despite the complaints from investors, Khandahar continues to live in Mumbai. He has chosen not to talk on the issue and has reportedly transferred the money acquired through the alleged scam to his sons.
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