Coimbatore: Hundreds of victims who lost their money to Universal Trading Solutions (UTS) which has duped several crores of investors money, lodged a petition at the District Legal Services Authority at the Court Complex here on Thursday.
Coimbatore: Hundreds of victims who lost their money to Universal Trading Solutions (UTS) which has duped several crores of investors money, lodged a petition at the District Legal Services Authority at the Court Complex here on Thursday.
Over 300 investors petitioned to retrieve their money and initiate legal action against the defrauders. As many as 1,000 investors from the city were affected by UTS who lured the people with attractive schemes promising striking interest rates, later eloped with several crores.
The Economic Offences Wing of the Coimbatore City Police arrested four people from UTS and further appealed to the investors to file complaints against the firm.
While the case was heard at the District Combined Court here, the Court ordered UTS to repay Rs. 11 Crore within 6 months of time. The Court also ordered the District Legal Services Authority to follow up with the case and ensure redressal for the investors.
In this scenario, more than 300 of the affected investors turned up at the District Legal Services Authority to submit their petitions.
Over 300 investors petitioned to retrieve their money and initiate legal action against the defrauders. As many as 1,000 investors from the city were affected by UTS who lured the people with attractive schemes promising striking interest rates, later eloped with several crores.
The Economic Offences Wing of the Coimbatore City Police arrested four people from UTS and further appealed to the investors to file complaints against the firm.
While the case was heard at the District Combined Court here, the Court ordered UTS to repay Rs. 11 Crore within 6 months of time. The Court also ordered the District Legal Services Authority to follow up with the case and ensure redressal for the investors.
In this scenario, more than 300 of the affected investors turned up at the District Legal Services Authority to submit their petitions.