Motorcycle taxi firm director booked over investment fraud

The Noida Police on Thursday arrested a director of a motorcycle taxi firm, Bike Bot, in connection with an investment fraud, officials said. Vijaypal Kasana is one of the directors and franchise head of Garvit Innovative Promoters, more popular as Bike Bot, and he was arrested from Meerut by a joint team of the Economic Offences Wing and SWAT of the Noida Police, they said.

"The company has at least 33 cases registered at police stations in Gautam Buddh Nagar on complaint by investors," a police spokesperson said. "Kasana had got injured in a road accident and was admitted to a hospital in Meerut yesterday (Wednesday). Based on this input, the Noida Police today arrested him from Meerut," the official said.

According to officials, Sanjay Bhati is the main accused in the Bike Bot investment fraud and is absconding with his other associates. Bhati, along with his associates, has allegedly duped thousands of investors after promising them good returns against investment in their motorcycle taxi scheme, they said.

(With inputs from agencies.)