Popular Finance fraud: MD's children nabbed at Delhi airport


Daijiworld Media Network - New Delhi (SD)

New Delhi, Aug 28: Two children of Thomas Daniel, managing director of Popular Finance company, have been nabbed at the Delhi airport.

Rinu Mariam Thomas and Riya Ann Thomas were reportedly trying to escape to Australia. The Kerala police are said to be on their way to bring the two children back to Kerala. Thomas (Roy) Daniel their father and chairman of Popular Finance and his wife Prabha, his partner in the firm are both absconding.

The court attached the headquarters of the company located at Vakayar, Konni in Pathanamthitta district on Friday, August 28 which was carried out after the plea filed by Suresh K V, a native of Adoor who had made investments in the company.

His petition stated that a huge scam was being carried out in the company and sought for protection of his investment. This led the court to attach the company office and directed that no property exchange was permitted until the case is settled.

The number of complaints began to surge after the company was unable to repay the invested amount at the specified time. Over 100 complaints were raised within a few days following which the chairman Thomas and his wife went absconding. The first case was registered at Konni police station with charges of cheating.

Over 1,600 investors within and outside the state, including NRIs, were yet to receive their invested amount the police found out. Around 60 complaints have been registered so far and over 100 have given their statements. The estimation according to the police says that the company has received about Rs 2,000 crore from investors.

  

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Comment on this article

  • Annie John, Mumbai

    Fri, Sep 04 2020

    Excellent job by the immigration officers. These type of people
    should not be spared at any cost. Our govt should seek Australian govt help to nab the rest of the fraud gang and they should be brought to India .
    How many gullible people have been fooled with the help.of their staff.

    DisAgree Agree Reply Report Abuse

  • Rob, Cochin

    Fri, Aug 28 2020

    Both are Directors of Popular Finance Subsidiaries. That means they are legal adults.
    Even if the company was declared bankrupt, its only correct that the subsidiary companies are investigated and accounts frozen, to prevent them siphoning off the assets. Good job by the immigration officers to identify and detain them from leaving the country.

    DisAgree [1] Agree [1] Reply Report Abuse

  • DP, Balmatta

    Fri, Aug 28 2020

    The article yesterday said that the LEGAL ENTITY have filed for "BANKRUPTCY".

    I still cannot understand under which law were the "Children" stopped from.

    Under company law, a in-corporated company , is the sole owner and the owners cannot be held liable for losses. The INC. have legally claimed bankruptcy.

    Either there is something wrong with the article/s published without giving the entire situation OR the LAW is ignorant of the LAW !!

    Under no circumstances, can children be stopped under ANY law . Only place that is done is in shiekdoms or if they are minors!

    DisAgree [2] Agree [8] Reply Report Abuse

  • Ronald, Mangalore

    Fri, Aug 28 2020

    If there was a bankruptcy procedur filed, what was the need for promoters to absconde?

    DisAgree [1] Agree [1] Reply Report Abuse

  • James Anderson, Bangalore

    Mon, Aug 31 2020

    Because there was a lookout notice against them. These girls along with their husbands and parents looted public money and no Bankruptcy could save such assholes in India.

    DisAgree Agree Reply Report Abuse

  • Mohan Prabhu,, Mangalore (Kankanady)/Ottawa, Canada

    Fri, Aug 28 2020

    couriers of father's loot; may be they wanted to join the absconding parents and live happily ever after.

    DisAgree [2] Agree [7] Reply Report Abuse

  • KRPrabhu, Bangalore

    Fri, Aug 28 2020

    Inspite of so many Gulum walas with Indapatt business...Enough people are there in the society to put their hard earned money in their schemes to get fooled time again....ಮಂಗ ಅಗುವವರು ಎಲ್ಲಿಯ ವರೆಗೆ ಇರುತ್ತಾರೋ ....ಮಂಗ ಮಾಡುವವರೂ ಅಲ್ಲಿಯ ವರೆಗೆ ಇರುತ್ತಾರೆ......!

    DisAgree [2] Agree [4] Reply Report Abuse


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