Noida: Delhi High Court on Thursday issued fresh notifications for the appearance of the Government and Garvit Innovative Promoter Limited (GIPL), the company behind the famous bicycle bot scheme, at the petition submitted by the All Indic Bike Taxi Union Bot in the RS.
42,000 Crore accused fraud.
Union’s request before the High Court in bicycle bot fraud, the probe is now being handled by the CBI, looking for instructions to Sebi to take action against the GIP because of violations of the Securities Board and Stock Exchange (SEBI).
This Union represents around 3,000 investors.
GIPL arranges a bicycle bot fraud allegedly by launching several bicycle taxi schemes in 2017, attracting investors to deposit Hospital.
62,100 to provide bicycle taxis.
The company has promised around 2.5 lakh investors doubling their returns, but falling flat on a guarantee.
More than 700 firs have been submitted throughout the country in connection with fraud so far, which first appeared after FIR was submitted against the GIPL at the Dadri Police Station in February 2019, with complaints from Jaipur Resident Sunil Kumar Meena.
Upendra Pratap Singh, a lawyer for the Petitioner, told TII, “We first approached the Supreme Court in 2019, which directed us to move the High Court and we did it on February 2020.
Of the five respondents, ministries, ministries, the Ministry of Corporate Affairs (MCA ) And Sebi has answered the notification issued for them by HC, but the GIPL and the government above have not responded.
“” Sebi has submitted their reply by saying that the problem is not included in their scope.
Our application is looking for directions to SBI to begin the process of GIP Because it is the only authority that can help investors get their money returned, “he added.
In the affidavit, Sebi told HC that members / deposits who invest in a bicycle bot scheme cannot be called “investors”, and “hence out of the scope of actions and regulations”.
In addition, a multi-level marketing scheme such as bot bots is governed by the state government, he said.
List of Problems On February 16 2022, Judge Prateek Road ordered that fresh notification for the appearance was issued for the government and GIPL “by all the allowed modes, and via email other than”.
In his request, trade unions also demanded that Sebi be directed to attach GIPL assets and funds and ask for transactions carried out by the company and obtain all the properties that can be moved and immovable obtained through bicycle bot funds.
A further application looks for direction for Sebi to ensure that investors get their money back.
Del HC notification for the government, promoter at boot bot row
