- Upon investing Rs 50 lakh, the agent was promised double the amount after two years
- But the company management evades returning amount for last two years
- Case registered against EVK (GSR Group) Company MD G Srinivas Rao, Marketing Head Shilpa
Surprising though it may seem, but it is true. A realty agent who invested in a project started by a pre-launch promoter during the COVID-19 period, filed a police case in Hyderabad. Here are the details of the case which was recently registered at the Ramachandrapuram police station.
The police registered an FIR based on a complaint by an agent from a real estate company named EVK, which commenced operations during the Corona crisis. According to the complaint, the agent was promised that if a customer invested Rs 50 lakhs in EVK, the company would double the amount to Rs 1 crore after two years. As security guarantee, the company offered to register 200 sq. yards of land in the customer’s name. Consequently, a customer who trusted the agent, invested Rs 50 lakhs in 2021.
However, when the two-year period specified in the contract ended, the company did not fulfill its promise, and the customer approached EVK Managing Director (MD) G Srinivasa Rao and Marketing Head Shilpa for an explanation. However, the duo did not respond to his inquiries. The agent claimed that the customer was provided with four post-dated checks during his visits to the office. He was informed that the 200 sq.yards land, registered under his name, needed to be transferred back to the company in order to receive the money, which would be given three months after the completion of the process.
With no further response from G Srinivasa Rao (GSR Group) and Shilpa in this regard despite numerous attempts to contact them, the agent filed a complaint with the police, requesting appropriate action against the duo. After examining the details, the police registered a case against EVK Company MD G Srinivasa Rao and Marketing Head Shilpa.
