Bengaluru: Ambidant investors knock on court’s door

Bengaluru: Not receiving payments for over nine months against the investments made in the fraudulent city-based investment company Ambidant Marketing Pvt Ltd, the investors have now resorted to the legal route hoping to get back their hard-earned money.

Several investors have approached advocate Ismail Maitri after Ambidant's owners Syed Fareed Ahmed and his son Syed Afaq Ahmed, who had earlier promised to return the money, have maintained a dead silence after the Central Crime Branch (CCB) arrested them for cheating over 11,000 customers.

While the Enforcement Directorate (ED), which raided Ambidant in January this year, claimed the transactions to be over Rs 900 crore, Fareed claimed before the CCB that the liability on his company is just over Rs106 crore.

Advocate Maitri told Deccan Chronicle that several investors have approached him along with their documents to take up their case, but many think that the legal route would take a long time. The CCB team, investigating the Ambidant scam, is making efforts to recover the money from the owners, but is keeping mum on the investigation status. A source privy to the investigation, however, said that a few businessmen who had taken money from Fareed have promised to return it. Investors feel that the investigation will take long time and believe that Chief Minister H.D. Kumarswamy's intervention may bring them relief. Junaid, an investor, said that the chief minister, in the interest of poor investors – mostly belonging to the minority community, should constitute special teams to investigate the case and set up a special court to try the case.  Meanwhile, several investors are coming forward to lodge complaints against the company. 

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