“Raipure would induce people into investing money in his company by offering 1.5% interest every day," states the FIR. And to gain the trust of investors, he would initially pay regular interest to investors, and would later start defaulting, an officer said.
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On Saturday, an FIR was registered against Ritesh Panchal (CEO), Sandeep Manjarekar, Sunil Mule, and other directors of Shri Mahakali group of companies at Sakinaka police station.