PCAIT files complaint in Sementic fraud case

In a recent development of SD Infosys or Sementic IT defaulter case, Delhi based channel association, PCAIT has filed a complaint with Economic Offence Wing (EOW) of Delhi Police on October 19, 2011. Though, it took almost 5 months to register a case due to lengthy verification process and gathering of accurate information against Delhi based SD Infosys or Sementic IT, owned and managed in the name of HC Chawla as the sole proprietor.

The incident came into light in April 2011, since then the defaulter Manish Chawla, son of HC Chawla and director of Sementic IT along with his family members were absconding. As per PCAIT, non-bailable arrest warrant is also pending against them. Speaking more on this development, V Krishnan, executive secretary, PCAIT said, "On behalf of written complaints received from 7 affected partners and members of the association, PCAIT fi led a complaint for defrauding our members to the tune of Rs 5.43 crore against the Chawla family, who have committed offences of criminal breach of trust (Sec 406 of IPC), cheating (Sec 420 of IPC) and criminal conspiracy." Krishnan further added, "The quantum of swindled amount in this fraud case might go up as most of the affected members and non members are still not willing to co-operate. Even among the members, they neither want to divulge the details to PCAIT nor want to go to EOW through PCAIT."

When asked, why it took so long to respond, Krishnan mentioned, "The reason was, verifcation had to be done if others had also filed cases against the same fraudsters. Strangely no other affected members seem to have filed any complaint with the EOW though the amount lost by them are even bigger than some of the members on whose representation PCAIT has filed the complaint. PCAIT is deeply committed to bringing fraudsters to justice and also ensure that frauds are prevented before being committed."

PCAIT hopes to succeed in setting right this drawback as early as possible by imparting necessary trainings to members, like how and what to share and how to take precautionary steps against frauds.