Extortion Racket: A major extortion racket involving a father-son duo, who posed as lawyers, was busted by the Gurugram police last month. The two, Mani Ram Panday (58) and his son Kislay, have been accused of trying to extort crores of rupees from Indiabulls Housing Finance. Investigators have also found evidence suggesting that they targeted Dewan Housing Finance as well.
Extortion Racket: Father-Son Duo Ran Fake Law Firm
Mani Ram Panday and his son, Kislay, are believed to have operated a law firm called Managium Juris LLP in Delhi. While they presented themselves as legitimate lawyers, police have confirmed that their law degrees were fake. Their modus operandi involved gathering information about non-banking financial companies (NBFCs), filing petitions in various courts, and then threatening to publicize financial irregularities to build pressure. Eventually, they would withdraw the petitions in exchange for money.
The Extortion Plot Unfolded
The duo allegedly tried to blackmail Indiabulls Housing Finance by accusing them of financial misconduct worth Rs 55,000 crore. According to Indiabulls’ chief general manager Ashok Sehrawat, the extortionists demanded Rs 10 crore, to be paid in two instalments. This case was reported to the Udyog Vihar police station on June 4, 2023.
Additionally, police have found that four other similar extortion cases were registered against the duo at the Seemapuri police station in Delhi.
Extortion Racket: Ongoing Investigation and Arrests
Police have arrested Mani Ram Panday and placed him on a four-day remand to dig deeper into the racket. They are also investigating his fake legal qualifications, with the Allahabad High Court Bar Association confirming that they are not genuine lawyers. Authorities are working to track down Kislay, who is currently on the run, and expand their investigation into the full extent of the extortion network.
Past Criminal Record
Records show that Mani Ram and Kislay have been involved in criminal activities before, with at least four FIRs filed against them between 2002 and 2011. Charges include cheating, fraud, extortion, blackmail, and issuing threats. Police are continuing to search for more victims of their schemes.
Extortion Racket: Investigators Closing In on Fake Lawyers
This case sheds light on the fraudulent activities of the father-son duo who used their fake legal identities to exploit financial companies. As the investigation continues, authorities are determined to uncover the full scope of their criminal operations and bring justice to those affected by their schemes.
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