The Rs.3700 crores Fake ‘Like’ scam in which 7 Lakhs people were duped comes as a shock. Anubhav Mittal the key conspirator has been taken into custody by the Uttar Pradesh Special Task Force (STF) and let us hope all out effort is made by the government to trace the money and returned to innocent investors who were duped. People should not get lured by ‘Fly by Night’ operators who lure innocent people with handsome returns where even your Principal amount is never returned, forget amount the gains promised. The Company Law Board, SEBI and other agencies should not allow such companies to be registered or listed on the stock exchanges by making laws and procedures stringent so that we can avert the occurrence of such scams and frauds in future. The Enforcement Directorate should open an special cell to register the complaints of all those duped in this scam so that a watertight case can be made against Anubhav Mittal and innocent people’s money can be returned to them.
(The views expressed by the author in the article are his/her own.)