In Ahmedabad, for last 6 years a draw scheme was started by Jay Khodiyar Mitra Mandal in New Vadaj area. The scheme had attractive offers of payting options of Rs 1,000 for bike, Rs 4,000 for car and Rs 10,000 for house for which draws were held on 14th of every month. Initially a few people got bike etc. Later, the company got overwhelming response with 170 branches in the city with 1000 registered members. The company also said of having permission from RBI for money collection.
Based on a complaint from investor in the company, CID Crime Branch has raided companies office at Ratnam Complex and recovered necessary documents during its investigation.
