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Time of India
7 hours ago
- Business
- Time of India
Sri Lotus Developers IPO: Shah Rukh, Big B and Ashish Kacholia have bets on this Mumbai realtor
Sri Lotus Developers and Realty , set to launch its IPO next Wednesday, has allotted equity shares on a private placement basis to Bollywood icons Shah Rukh Khan, Amitabh Bachchan, the Roshan family, and veteran investor Ashish Kacholia. The equity shares were allotted in 2024 at a price of Rs 150 apiece. Explore courses from Top Institutes in Please select course: Select a Course Category Leadership Data Analytics Digital Marketing Cybersecurity Design Thinking Project Management others Operations Management Management MBA Public Policy Healthcare Artificial Intelligence Finance Data Science Others Technology Product Management PGDM CXO Data Science MCA Degree Skills you'll gain: Financial Accounting & Analysis Financial Instruments & Markets Corporate Finance & Valuation Investment Management & Banking Duration: 12 Months IIM Kozhikode IIMK Professional Certificate in Financial Analysis and Financial Management Starts on Mar 30, 2024 Get Details Skills you'll gain: Duration: 22 Weeks Indian School of Business SEPO - ISB Venture Capital & Private Equity India Starts on undefined Get Details Skills you'll gain: Strategic Thinking & Planning Competitive Advantage & Market Positioning Strategic Leadership & Decision-Making Change Management & Organizational Transformation Duration: 1 Year IIM Kozhikode IIMK Advanced Strategic Management Programme Starts on Mar 30, 2024 Get Details Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML SLP India Starts on undefined Get Details Skills you'll gain: Critical Thinking & Decision-Making Skills Power of Emerging Technologies Innovation and Drive Organizational Change Fostering a Culture of Innovation Duration: 9 Months MIT xPRO MIT Technology Leadership and Innovation Starts on May 14, 2024 Get Details Skills you'll gain: Opportunities & Outlining Plans to use AI & ML Applying Data-Driven Business Innovation Best Practices Changing Culture to Integrate AI-Enabled Technologies Ethics, Privacy and Regulations in AI & ML Duration: 20 Weeks Indian School of Business ISB Leadership in AI Starts on May 14, 2024 Get Details Skills you'll gain: Duration: 10 Months IIM Indore Executive Programme in Business Management Starts on undefined Get Details Skills you'll gain: Duration: 18 Weeks 109820388 Strategic Marketing for Leaders: Leveraging AI for Growth Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML SLP India Starts on undefined Get Details Skills you'll gain: Duration: 12 Months IIM Kozhikode Advanced Strategic Management Programme Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK-Women Leadership Programme INDIA Starts on undefined Get Details Skills you'll gain: Duration: 12 Months IIM Kozhikode Senior Management Programme Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Indore Executive Programme in Business Management Starts on undefined Get Details Skills you'll gain: Duration: 12 Weeks IIM Kozhikode CERT-IIMK EPIS Async India Starts on undefined Get Details Skills you'll gain: Duration: 12 Months IIM Kozhikode SEPO - IIMK CEO Programme India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas In Dubai | Search Ads Get Rates Undo The Shah Rukh Khan Family Trust holds 6,75,000 shares, investing Rs 10.1 crore, while Amitabh Bachchan acquired 666,670 shares at a cost of Rs 10 crore during the private placement, according to the Red Herring Prospectus (RHP) filed by the company. Meanwhile, Hrithik Rakesh Roshan and his father Rakesh Roshan hold 70,000 shares each. Kacholia acquired 3,333,300 equity shares for nearly Rs 50 crore. The Sri Lotus Developers IPO will close for subscription on August 1. Live Events Before filing its Draft Red Herring Prospectus (DRHP) in December 2024, Sri Lotus Developers raised Rs 399.20 crore through a private placement to 118 individuals and entities. That round also saw participation from other celebrities such as Ektaa Ravi Kapoor, her brother Tusshar Kapoor, and their father Jeetendra. According to the RHP, King Khan invested Rs 10.1 crore, and Amitabh Bachchan invested Rs 10 crore, both at Rs 150 per share during the private placement round. The company attracted significant Bollywood interest due to its promoter, Anand Kamalnayan Pandit, a well-known film producer and distributor. Other marquee investors like Jagdish Master and DRChoksey Finserv have also backed the company. Through this book-built IPO, Sri Lotus Developers plans to raise Rs 792 crore. Incorporated in February 2015, Sri Lotus Developers and Realty Limited develops residential and commercial properties in Mumbai, Maharashtra, focusing on redevelopment projects in the ultra-luxury and luxury segments of the western suburbs. As of June 30, 2025, the company had a developable area of 0.93 million square feet, covering both residential and commercial projects.
Time of India
8 hours ago
- Business
- Time of India
Venus Williams announces engagement with Andrea Preti: Is she richer than her sister Serena? Check details
Venus Williams has confirmed that she is engaged to her actor boyfriend Andrea Preti . Williams, 45, made the revelation after turning back the clock to beat Peyton Stearns in straight sets at the Citi Open in Washington D.C. 'You are now an engaged woman,' interviewer Rennae Stubbs said. 'So, how has Andrea helped you in this comeback? You're happy, a smile on your face. I mean, how much has he made a difference in your life?' Explore courses from Top Institutes in Please select course: Select a Course Category Leadership Degree Cybersecurity PGDM Product Management Data Science Artificial Intelligence Design Thinking CXO Public Policy MBA healthcare Operations Management Healthcare others Finance Project Management Data Science Management Others Data Analytics Digital Marketing MCA Technology Skills you'll gain: Duration: 12 Months IIM Kozhikode SEPO - IIMK CEO Programme India Starts on undefined Get Details Skills you'll gain: Financial Accounting & Analysis Financial Instruments & Markets Corporate Finance & Valuation Investment Management & Banking Duration: 12 Months IIM Kozhikode IIMK Professional Certificate in Financial Analysis and Financial Management Starts on Mar 30, 2024 Get Details Skills you'll gain: Duration: 12 Months IIM Kozhikode Advanced Strategic Management Programme Starts on undefined Get Details Skills you'll gain: Duration: 12 Months IIM Kozhikode Senior Management Programme Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK-Women Leadership Programme INDIA Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML SLP India Starts on undefined Get Details Skills you'll gain: Duration: 12 Weeks IIM Kozhikode CERT-IIMK EPIS Async India Starts on undefined Get Details Skills you'll gain: Critical Thinking & Decision-Making Skills Power of Emerging Technologies Innovation and Drive Organizational Change Fostering a Culture of Innovation Duration: 9 Months MIT xPRO MIT Technology Leadership and Innovation Starts on May 14, 2024 Get Details Skills you'll gain: Duration: 18 Weeks 109820388 Strategic Marketing for Leaders: Leveraging AI for Growth Starts on undefined Get Details Skills you'll gain: Strategic Thinking & Planning Competitive Advantage & Market Positioning Strategic Leadership & Decision-Making Change Management & Organizational Transformation Duration: 1 Year IIM Kozhikode IIMK Advanced Strategic Management Programme Starts on Mar 30, 2024 Get Details Skills you'll gain: Opportunities & Outlining Plans to use AI & ML Applying Data-Driven Business Innovation Best Practices Changing Culture to Integrate AI-Enabled Technologies Ethics, Privacy and Regulations in AI & ML Duration: 20 Weeks Indian School of Business ISB Leadership in AI Starts on May 14, 2024 Get Details Skills you'll gain: Duration: 22 Weeks Indian School of Business SEPO - ISB Venture Capital & Private Equity India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Indore Executive Programme in Business Management Starts on undefined Get Details 'My fiancé is here and he really encouraged me to keep playing,' said Williams, a seven-time Grand Slam champion and the older sister of fellow tennis sensation Serena Williams. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo ALSO READ: $1,390 Stimulus check in 2025: Do Americans need to pay tax on the amount and who needs to apply? 'There were so many times where I just wanted to coast and kind of chill. Do you know how hard it is to play tennis? You guys don't know how much work goes into this, like it's 9 to 5 except you're running the whole time.' Live Events 'Lifting weights and just like dying and then you repeat it the next day. So he encouraged me to get through this and it's wonderful to be here. He's never seen me play,' she added. Who is Andrea Preti? Venus Williams and Andrea Preti consciously kept their romance under wraps for months. Williams and the 'One More Day' actor were first linked together in July 2024 during a romantic boating trip in Nerano, Italy. In February, the couple sparked engagement rumors for the first time after Williams was seen wearing a diamond sparkler on that finger. Andrea Preti was born in Denmark in 1988 but was raised in Italy, A man with many creative hats, he began his career as a fashion model before pivoting to acting and directing. ALSO READ: Ozzy Osbourne's massive wealth exposed: How did the legendary rockstar make $220 million? He trained at New York's Susan Batson Academy. In 2014, Preti's breakout came with the indie film One More Day, which he wrote, directed, and starred in. Preti also appeared in the popular TV drama A Professor and, more recently, in the 2023 drama Temptation. He's also dabbled in reality TV, including the Italian version of The Mole (La Talpa). Though his earnings don't come close to Venus's $95 million empire, Andrea's estimated net worth stands around $1 million, with work spanning modeling, acting, writing, and producing, according to HT. On the other hand, according to Celebrity Net Worth, Williams has a net worth of $95 million. Besides her career in sports, she also started her own fashion line, EleVen, in 2007. She released her first book, titled Come to Win on How Sports Can Help You Top Your Profession, in June 2010. She also appeared on various talk shows to promote her book, including The Early Show and Good Morning America. ALSO READ: Heat advisory in effect as heat dome expected to raise temps to triple digits in US, 90 million Americans at risk Williams earned $38 million on the court through 2017, making her the second highest-earning female tennis player of all time, topping Maria Sharapova ($36.5 million). She even put her sister, Serena Williams ($85 million), behind. Williams' career earnings stood at more than $42 million as of March 2022. Williams also made a whopping amount from endorsements – between $5 and $10 million per year – off the court. Who is richer? Serena or Venus Serena's net worth is estimated between $300 million to $350 million in 2025. Forbes lists her at $350 million, while Celebrity Net Worth reports $300 million. The Sun also notes her post‑retirement business empire is worth $340 million. Whereas, Venus's estimated net worth is around $95 million in 2025.
Time of India
10 hours ago
- Business
- Time of India
'Reels Won't Build Your Future': Perplexity CEO's Straight-Talk Advice to the Scrolling Generation.
In an era where short-form content dominates attention spans and 'doom-scrolling' has become the default pastime, Aravind Srinivas , CEO and co-founder of Perplexity AI , is sounding the alarm. His recent statement aimed directly at young people glued to Instagram Reels and TikTok videos: "Stop watching reels. Go build your own future." It's not just a wake-up call; it's a challenge. Srinivas, who's at the helm of one of the most rapidly growing AI startups in the world, understands the power of technology more than most. But he's also acutely aware of its risks, particularly the way it hijacks attention and delays personal development. His advice comes not from a place of judgment, but from firsthand experience of what it takes to be world-class in a hypercompetitive, AI-dominated future. Explore courses from Top Institutes in Please select course: Select a Course Category Leadership Technology Design Thinking PGDM Digital Marketing others healthcare Data Science Management CXO Operations Management Artificial Intelligence Product Management MCA Healthcare Others Data Science Project Management MBA Data Analytics Finance Cybersecurity Public Policy Degree Skills you'll gain: Duration: 18 Weeks 109820388 Strategic Marketing for Leaders: Leveraging AI for Growth Starts on undefined Get Details Skills you'll gain: Strategic Thinking & Planning Competitive Advantage & Market Positioning Strategic Leadership & Decision-Making Change Management & Organizational Transformation Duration: 1 Year IIM Kozhikode IIMK Advanced Strategic Management Programme Starts on Mar 30, 2024 Get Details Skills you'll gain: Duration: 10 Months IIM Indore Executive Programme in Business Management Starts on undefined Get Details Skills you'll gain: Duration: 12 Weeks IIM Kozhikode CERT-IIMK EPIS Async India Starts on undefined Get Details Skills you'll gain: Opportunities & Outlining Plans to use AI & ML Applying Data-Driven Business Innovation Best Practices Changing Culture to Integrate AI-Enabled Technologies Ethics, Privacy and Regulations in AI & ML Duration: 20 Weeks Indian School of Business ISB Leadership in AI Starts on May 14, 2024 Get Details Skills you'll gain: Critical Thinking & Decision-Making Skills Power of Emerging Technologies Innovation and Drive Organizational Change Fostering a Culture of Innovation Duration: 9 Months MIT xPRO MIT Technology Leadership and Innovation Starts on May 14, 2024 Get Details Skills you'll gain: Duration: 22 Weeks Indian School of Business SEPO - ISB Venture Capital & Private Equity India Starts on undefined Get Details Skills you'll gain: Duration: 12 Months IIM Kozhikode SEPO - IIMK CEO Programme India Starts on undefined Get Details Skills you'll gain: Financial Accounting & Analysis Financial Instruments & Markets Corporate Finance & Valuation Investment Management & Banking Duration: 12 Months IIM Kozhikode IIMK Professional Certificate in Financial Analysis and Financial Management Starts on Mar 30, 2024 Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK-Women Leadership Programme INDIA Starts on undefined Get Details Skills you'll gain: Duration: 12 Months IIM Kozhikode Senior Management Programme Starts on undefined Get Details Skills you'll gain: Duration: 12 Months IIM Kozhikode Advanced Strategic Management Programme Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML SLP India Starts on undefined Get Details Distraction Is the Enemy of Innovation Srinivas points out a truth: passive consumption doesn't lead to progress. In his view, every hour spent mindlessly consuming 'junk food for the brain' is an hour not spent building skills, reading deeply, or working on high-leverage problems. For those looking to carve out meaningful careers, particularly in fields being transformed by AI and tech, he stresses the importance of curiosity, learning, and experimentation. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas In Dubai | Search Ads Get Rates Undo 'You can't become exceptional by consuming mediocre content,' he said during a recent Q&A. Instead, he recommends using platforms like Perplexity itself, a knowledge engine designed to promote active inquiry and deep understanding, as a daily tool for learning and exploration. The Opportunity Cost of Reels The addictive nature of reels may seem harmless, but the long-term cost is steep. Srinivas argues that the biggest missed opportunity isn't just time, it's potential. While millions scroll, a small fraction are coding, writing, building, and experimenting. That's the delta that defines success in the coming decade. As AI levels the playing field, discipline and intellectual curiosity become the true differentiators. Live Events A Culture Shift Is Coming Srinivas's message aligns with a broader trend: a growing pushback against algorithmic addiction and digital overconsumption. Increasingly, voices from across tech, from venture capitalists to startup founders, are urging young people to reclaim their time, their minds, and their ambitions. Srinivas is part of that wave, but with a sharper edge and actionable urgency. The next generation has the most powerful tools in human history at its fingertips. The question, Srinivas implies, is whether they'll use them to consume or to create. The choice is binary, and the future belongs to the builders.
Time of India
11 hours ago
- Business
- Time of India
Hybrid mutual funds see 163% YoY jump in June inflows to Rs 23,223 crore: ICRA Analytics
Hybrid mutual funds witnessed record-breaking net inflows of Rs 23,223 crore in June 2025, with arbitrage, multi-asset allocation and balanced advantage funds being the key contributors. The net inflows into these funds surged by 162.26% on a year-on-year, according to a release by ICRA Analytics. Arbitrage, multi asset allocation and balanced advantage funds recorded net inflow of Rs 15,585 crore, Rs 3,210 crore and Rs 1,886 crore, respectively. Investors favoured hybrid schemes for their balanced risk-reward profile amid market volatility. Explore courses from Top Institutes in Please select course: Select a Course Category Leadership Project Management Public Policy Degree CXO Data Analytics Others Cybersecurity Management Data Science Data Science healthcare Digital Marketing MCA Product Management Operations Management others Design Thinking Technology PGDM Finance MBA Skills you'll gain: Duration: 18 Weeks 109820388 Strategic Marketing for Leaders: Leveraging AI for Growth Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Indore Executive Programme in Business Management Starts on undefined Get Details Skills you'll gain: Duration: 12 Months IIM Kozhikode Advanced Strategic Management Programme Starts on undefined Get Details Skills you'll gain: Opportunities & Outlining Plans to use AI & ML Applying Data-Driven Business Innovation Best Practices Changing Culture to Integrate AI-Enabled Technologies Ethics, Privacy and Regulations in AI & ML Duration: 20 Weeks Indian School of Business ISB Leadership in AI Starts on May 14, 2024 Get Details Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML SLP India Starts on undefined Get Details Skills you'll gain: Duration: 12 Weeks IIM Kozhikode CERT-IIMK EPIS Async India Starts on undefined Get Details Skills you'll gain: Duration: 22 Weeks Indian School of Business SEPO - ISB Venture Capital & Private Equity India Starts on undefined Get Details Skills you'll gain: Strategic Thinking & Planning Competitive Advantage & Market Positioning Strategic Leadership & Decision-Making Change Management & Organizational Transformation Duration: 1 Year IIM Kozhikode IIMK Advanced Strategic Management Programme Starts on Mar 30, 2024 Get Details Skills you'll gain: Financial Accounting & Analysis Financial Instruments & Markets Corporate Finance & Valuation Investment Management & Banking Duration: 12 Months IIM Kozhikode IIMK Professional Certificate in Financial Analysis and Financial Management Starts on Mar 30, 2024 Get Details Skills you'll gain: Critical Thinking & Decision-Making Skills Power of Emerging Technologies Innovation and Drive Organizational Change Fostering a Culture of Innovation Duration: 9 Months MIT xPRO MIT Technology Leadership and Innovation Starts on May 14, 2024 Get Details Skills you'll gain: Duration: 12 Months IIM Kozhikode Senior Management Programme Starts on undefined Get Details Also Read | Gold ETF has beaten Nifty ETF 7 times in 10 years. How to invest now? Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Victoria Principal Is Almost 75, See Her Now Reportingly Undo Total net inflows in the equity-oriented schemes stood at Rs 23,587 crore in the period under review, 24% higher than those in May 2025. Within the equity space, flexi cap, smallcap and midcap funds witnessed net inflows of Rs 5,733 crores, Rs 4,024 crore and Rs 3,754 crores, respectively. Meanwhile, ELSS funds saw a net outflow of Rs 556 crores, indicating waning tax-season demand. The strong performance of benchmark indices like Nifty 50 TRI (+3.37%) and Sensex TRI (+2.98%) further boosted investor confidence. Live Events Debt funds saw moderate outflows in June, compared to May. Net outflow of debt schemes stood at Rs 1,711 crore (compared to net outflow of Rs 15,908 crores in May). During the month, short-duration, money market and corporate bond funds witnessed net inflows of Rs 10,277 crore, Rs 9,484 crore and Rs 7,124 crore, respectively. Meanwhile, liquid funds saw a net outflow of Rs 25,196 crore due to quarter-end withdrawals. June 2025 marked a strong month for the Indian mutual fund industry, with record-high inflows and robust investor participation across equity, hybrid, and SIP segments. Data from the Association of Mutual Funds in India (AMFI) showed that the industry's total Assets Under Management (AUM) surged to Rs 74.41 lakh crore, reflecting a 13.2% quarter-on-quarter growth, supported by bullish equity markets and sustained retail interest. Systematic Investment Plans (SIPs) remained a pillar of retail investment with monthly contributions touching a new all-time high of Rs 27,269 crore. There are 9.19 crore active SIP accounts as on June 30, 2025. The growth drivers for the SIP are predominantly rising financial literacy, consistent returns from equity markets and ease of investing via digital platforms. Also Read | MF Tracker: Will Invesco India PSU Equity Fund shine again after topping 3-year charts? SIPs continue to be the preferred mode for long-term wealth creation, especially among young and first-time investors, ICRA Analytics said. June 2025 showcased the resilience and growth potential of the Indian mutual fund industry. With strong SIP momentum, diversified inflows across categories, and favourable market conditions, the industry is well-positioned for continued expansion in the second half of the calendar year.
Time of India
11 hours ago
- Automotive
- Time of India
Are you sure your car insurance is real? Probe finds 80,000 fake policies issued between 2022 and 2023
Delhi Police 's crime branch is investigating a major insurance fraud in which policies meant for two-wheelers were issued against three-wheeler and four-wheeler vehicles across the country. The scam came to light after the Motor Accident Claims Tribunal (MACT) began issuing claims notices to the insurance company involved, a TOI report stated. Scam exploited insurance company's e-motor portal The fraudsters allegedly took advantage of the insurance company's e-motor portal and other online tools to issue these fake policies. According to the company's authorised representative, the accused altered customer data, misclassified vehicle types, and provided fake contact information to issue false insurance documents. Explore courses from Top Institutes in Please select course: Select a Course Category Leadership Digital Marketing Design Thinking Data Science Technology Others Management MBA Degree Operations Management PGDM Public Policy MCA Data Science Project Management Product Management healthcare Finance others CXO Data Analytics Cybersecurity Skills you'll gain: Critical Thinking & Decision-Making Skills Power of Emerging Technologies Innovation and Drive Organizational Change Fostering a Culture of Innovation Duration: 9 Months MIT xPRO MIT Technology Leadership and Innovation Starts on May 14, 2024 Get Details Skills you'll gain: Financial Accounting & Analysis Financial Instruments & Markets Corporate Finance & Valuation Investment Management & Banking Duration: 12 Months IIM Kozhikode IIMK Professional Certificate in Financial Analysis and Financial Management Starts on Mar 30, 2024 Get Details Skills you'll gain: Duration: 22 Weeks Indian School of Business SEPO - ISB Venture Capital & Private Equity India Starts on undefined Get Details Skills you'll gain: Duration: 12 Weeks IIM Kozhikode CERT-IIMK EPIS Async India Starts on undefined Get Details Skills you'll gain: Duration: 12 Months IIM Kozhikode Senior Management Programme Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML SLP India Starts on undefined Get Details Skills you'll gain: Duration: 18 Weeks 109820388 Strategic Marketing for Leaders: Leveraging AI for Growth Starts on undefined Get Details Skills you'll gain: Strategic Thinking & Planning Competitive Advantage & Market Positioning Strategic Leadership & Decision-Making Change Management & Organizational Transformation Duration: 1 Year IIM Kozhikode IIMK Advanced Strategic Management Programme Starts on Mar 30, 2024 Get Details Skills you'll gain: Duration: 12 Months IIM Kozhikode Advanced Strategic Management Programme Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Indore Executive Programme in Business Management Starts on undefined Get Details Skills you'll gain: Opportunities & Outlining Plans to use AI & ML Applying Data-Driven Business Innovation Best Practices Changing Culture to Integrate AI-Enabled Technologies Ethics, Privacy and Regulations in AI & ML Duration: 20 Weeks Indian School of Business ISB Leadership in AI Starts on May 14, 2024 Get Details Thousands of fake policies issued, most with no real customer contact The company found that between 2022 and 2023, a total of 80,014 fake policies were issued, including 5,613 vehicles registered in Delhi alone. During internal checks, company officials were only able to trace 14 customers with valid contact details. These customers confirmed that the policies in their possession were forged. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Knee Surgeon: Suffering From Pain After Age 50? Do This Every Morning Wellnee Undo Policy details tampered, vehicles misrepresented "They misrepresented vehicle categories, issuing two-wheeler policies against three-wheeler (passenger) and four-wheeler goods carriers, commercial vehicles, motor or maxi cabs by mentioning wrong email addresses and phone numbers of the customers. Additionally, they provided fake, forged policy documents to some customers by changing the category of two-wheelers to that of other vehicles. In many cases, the fraudsters tampered with policy documents, including make, model, premium amount, and policy codes." Payments made through digital channels An internal probe revealed that most transactions—about 74%—were made via UPI, net banking, and credit cards. The payments were credited into the company's account, but were initiated by the accused. Live Events "Further investigation revealed that out of these fraudulent policies, 74% were purchased through transactions via UPI, net banking, credit cards, etc., credited into the company's account by the accused persons," the complainant added. Case registered, crime branch begins probe Following directions from the court, Delhi Police's crime branch registered a case and began its investigation. The company reported financial losses as a result of the scam. "After verifying the copies of insurance policies obtained from the insured persons during the visits and scrutinising the records maintained regarding their respective vehicle insurance policies in the company's system, it was found that the copies of policies possessed by the insured were fabricated," the complainant stated. The investigation is ongoing.
