Court asks police to appoint supervising officer in fraud case

Irked over alleged improper probe into a multi-crore fraud case involving a Delhi-based finance firm, a court here has asked police to appoint a senior officer to supervise the investigation.
   
"I hereby direct the Deputy Commissioner of Police (DCP) of Crime Branch to appoint a supervising officer in the case who should not be below the rank of an ACP," additional chief metropolitan magistrate Ajay Pandey said.

The court expressed its displeasure over the probe saying "there appears to be no proper investigation in the highly sensitive case which involves the interest of thousands of investors."

It was hearing the bail application of Rupesh Verma, managing director of Delhi-based M/s Shri Om Sai Nath Car On Rent Ltd, who sought his release on the ground that his personal and company assets amount to Rs 300 crore which could be used in paying back the investors.

Verma was arrested on December 18 from the Press Club of India when he was addressing the media following two FIRs alleging that he and his firm duped investors to the tune of around Rs 2,000 crore.

"Despite directions of the court, neither the list of persons, who had invested money with the accused is provided nor any details of the assets of the accused company is given... There is no specific reply from investigating officer inspector Raj Kishore," the court said.