BRIEF NOTE ON N-MART CASE


N-MART Retails Ltd. (M/s.New Look Multi Trade Private Limited)

N-Mart deployed franchisers, agents and collected deposits from the public by enrolling members as INDEPENDENT BUSINESS ASSOCIATE with false promises and offered easy and quick money by luring with incentives and commissions for enrolling members into the scheme and thereby resorted to Money Circulation and promoted illegal money circulation in contravention of the provisions of the Prize Chits and Money Circulation Scheme (Banning) Act, 1978 (Central Act No.43 of 1978) and the provisions of  Andhra Pradesh Protection of Depositors of Financial Establishments Act-1999.

Total Depositors                                           :         2.26 lakhs

Amount collected by the Company         :         Rs. 126 Cr.

The following 10 cases have been registered against them and all are being investigated by the CID, Andhra Pradesh.

  1. Cr. No. 104/2013, U/Sec. 420,406 IPC and Sec. 5 of APPDFE Act 1999 & Sec.4,5 & 6 of PCMCS(B) Act 1978 and Sec.45-S of RBI Act of Adoni-III Town PS, Kurnool District.
  2. Cr. No. 154/2012, U/Sec. 120(B), 406,420 IPC and 4,5 & 6 r/w 3 of PCMCS(B) Act,1978, Sec.5 r/w 2 © APPDFEA 1999 of Kandukuru-Town PS, Prakasham District.
  3. Cr. No. 106/2012, U/Sec. 120(B), 406,420 IPC and 4,5 & 6 r/w 3 of PCMCS(B) Act,1978, Sec.5 r/w 2 © APPDFEA 1999 and Sec. 45 S r/w 45 I© of RBI Act and Rules of Kandukuru-Rural PS, Prakasham District.
  4. Cr. No. 60/2012, U/Sec. 120(B), 406,420 IPC and 4,5 & 6 r/w 3 of PCMCS(B) Act,1978, Sec.5 r/w 2 © APPDFEA 1999 and Sec. 45 S r/w 451 © of RBI Act and Rules of Velivetipalem PS, Prakasham District.
  5. Cr. No. 583/2012, U/Sec. U/s 420 IPC Sec.3,4 & 6 Prize chits money circulation scheme R/w Sec 2 © and Sec. 3 of APPDFE Act of Machavaram PS, Vijayawada City District.
  6. Cr. No. 440/2011, U/Sec. U/s 420 IPC Sec. 4 & 6 Prize chits money circulation scheme R/w Sec 2 © and Sec. 3 of APPDFE Act of Pattabhipuram PS, Guntur (U) District.
  7. Cr. No. 220/2012, U/Sec. U/s 420 IPC Sec. 4, 5 & 6 r/w 3 of PCMCS(B) Act, 1978 and 5 of APPDFEA, 1999 of Chirala I-Town PS, Prakasham District.
  8. Cr. No. 74/2013, U/Sec. 420 IPC, Sec. 3 r/w  of Tripuranthakam PS, Prakasham District.
  9. Cr. No. 81/2013, U/Sec. 420 IPC, Sec. 2,3,4 & 6 of PCMCS(B) Act, 1978. of Narsaraopet PS, Guntur ® District.
  10. Cr. No. 368/2012, U/Sec. 120-B, 420, 406 IPC  and Sec. 3 r/w 4 & 5 of PCMCS (Banning) Act, 1978 and Sec.5 of APPDFE Act, 1999 of Gajuwaka PS, VSP City District.

The following persons were arrested and remanded to judicial custody.

Gopal Mohan Singh Shekawat

Hiren Kishore Kumar Devani

Akil Moiz Patrawala

Pratik Desai Ranjit Ray Desai

Prathibha Gopak Shekawat

Mohd. Salim Khan

Rushikesh Paricharak

Properties (immovable and movable) have been attached vide orders:

G.O.Ms. No. 166 Home (ARMS & SPF) Department, dt. 24-12-2014

Petitions have been filed in Special Court, Vijayawada for making the above GOs absolute.

Related G.O's


N-Mart - GO Ms No. 166, dt. 24-12-2014.PDF