People cautioned against depositing money with Belagavi-based Shivam Associates
Authorities have issued a warning against investing with Shivam Associates, a company based in Belagavi. The company is under investigation for alleged fraudulent transactions involving public funds. Affected individuals are encouraged to report any issues to the local police station for assistance.
- ▪Yadgir Superintendent of Police Pruthvik Shankar cautioned against investing with Shivam Associates.
- ▪A case has been registered against the company for alleged fraudulent transactions.
- ▪Residents from multiple districts have deposited significant amounts with the company, which was offering 3% interest.
Opening excerpt (first ~120 words) tap to expand
Yadgir Superintendent of Police Pruthvik Shankar warned people not to invest money with Belagavi-based Shivam Associates (an online company).Mr. Shankar said that a case has been registered against the company on the charge of alleged fraudulent transactions with public money.People from Belagavi, Kalaburagi, Yadgir, Koppal, Bidar and Ballari districts have deposited over a lakh of rupees each in the company, which has been paying 3% interest on the funds. After filing of the case, all financial transactions of the company were withheld pending an enquiry, he said.If any person is cheated by the company, they can contact the CEN police station in Yadgir at this number, 9480803664, for assistance.
Excerpt limited to ~120 words for fair-use compliance. The full article is at The Hindu — Top.
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