Bhagtani's Disguised Chit Fund Scam -- Is MPID Act Applicable?
28th October, 2017, Mumbai: Is there an alternative view of Bhagtani's scam? Is there a radically different way to frame the issues, to reshape the legal battle in order to get a better grip on the slippery Bhagtani? Consider an alternative narrative, which we may name Bhagtani's Disguised Chit Fund Scam. If this alternative interpretation of facts fits the reality, and if it is supported by the Allotment Letters, Cancellation Deeds, transactions, etc, then it will enable you to file stronger FIRs by including the sections of Maharashtra Protection of Interests of Depositors Act, (MPID Act) . MPID Act is for protecting the public from companies that fraudulently lure investors to deposit their funds with extremely attractive rates of interest, and then willful ly neglect to return the funds . Does this sound familiar to you? Does it make you feel that you have been victims of Bhagtani's Disguised Chit Fund Scam? If so, read further and ponder. (Note: For ease of u...