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Unethical franchisee business (fraud) practices by Male square pvt ltd, Ahmedabad

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Respected sir,
it is Male square pvt limited, Ahmadabad based company working in multi brand cloth franchisee business having 60 to 75 branches in Maharashtra, Gujarat, Rajasthan and Haryana
Company information
Registration No- 75668
CIN –U51909GJ2013PTC075668
Phone NO- 079-25604852

Directors- 1. MR. Mukul Koshti (Mobile No- 9924119868)
2.Mr Shashikiran (Mobile No- 9574177733)
3. Meghana mukul Koshti
4.Vatsal Paregi
5. Parth Amin

Adress- Male square Retails pvt ltd
F-339, Sumel Buiness park-6,
Hanumanpura BRTS bus stop
Dhudheshwar road, Shahibaug
Ahmadabad-380004
Office no- 07925604852

we are joined this company as a company operated franchisee on 23 feb 2015 by investing Rs 3000000 (thirty Lac) refundable deposition, on the basis of Minimum Guarantee Rs 60000 or 20% on sale,salary of two executives per month and stock refilled by the company on regular basis.
All the activity from the company i.e. MG, executives salary and stock refilling going smoothly till Jan 2016, but after that company not providing us stock,salary of two executives and monthly Guarantee payment as per contract till this date. we are contacting number of times through mail,phones,letter but no response from the Directors as well as employees from Ahmadabad office. Due to company unethical pattern of work most of the office staff resigned from the company.
company directors collected about Rs 40 crore through franchisee business route as well as misguide about their entrance into share market and conversion from private limited company into public limited company .
i also contacted more then 50 franchisee of company, same is the issue with them as well as store executives of about 150-200 in number also affected by no salary from the company from last one year,most of franchisee start legal procedure against them which results in approximately 25 FIR filed against them in Maharashtra, Rajasthan and Haryana. i have also did FIR but still directors are not in custody. now they are underground from one and half year without returning money
I personally visited director Mukul koshti home two times as well as office address but no one found at home and office and it was locked
I would like to request you, please investigate their unethical franchisee business pattern as well as help me to get our refundable deposit from the company and in future no company will not follow this pattern

waiting for your reply

Thank you for your response on twitter

Yours sincerely
Shirish S Mundada
Parli Vaijanath, Beed, Maharshtra

Comments

One response to “Unethical franchisee business (fraud) practices by Male square pvt ltd, Ahmedabad”

  1. A V Rao Avatar
    A V Rao

    Dear Mr Shirish,

    This team is a notorius gang of cheaters. To give a back ground of this team, they had created so far a series of such fraud companies promoted under different names to the extent we know.
    1. Maxis Exports Pvt Ltd
    2. Maxis Exports Ltd
    3. Maxis Detergents
    4. Male Square

    Their first company is Finance company under the banner of a reputed group, Export of Spices to create fictitious documents and extract funds against Foreign LC’s opened by importers, thereafter started another business venture under the name of Maxis Exports Ltd, to sell Mobiles and Mobiles accessories by luring people to open retail chain of Mobile stores and amassed an amount of more than Rs. 2.5 crores only from Andhra Pradesh. Before AP, cheated many in Karnataka to the tune of about Rs. 2 crores. I had lost an amount of Rs. 5000000 in this fradulant, I had the details of all investors with their contact numbers and persons details.

    Then after closure of this business, created another fictitious company to make Dish wash Bar and amassed another Rs. 2 crores from AP state alone.

    Then in the series the fourth venture is Male Square, in this made it much larger net and learnt that they goofed up almost 20 crores from Rajasthan, Haryana states.

    In this the kingpin is Mr Mukul Khosti, and ably assisted by another big time cheat who do not loose even a single chance of cheating by enticing and roping in by the same model of Minimum Guaranteed Assured Returns. They will give the Minimum guaranteed return till they reach to their targetted Deposits from the easy preys.

    There are many cases pending against Mr Mukul Khosti in Ahmedabad, and many courts in Andhra Pradesh, Karnataka and declared in courts as Missing and untraceable.

    Recently. one victim from Rajasthan has tweeted a complaint to Prime Minister, the progress of which is yet to known.

    We are scapegoats to his vicious business plans and we are trying to unite all the people suffered in their hands. Many are eagerly waiting to nab him and take him to task and produce before court as a habitual offender and cheater. The details of the cases can be shared and I can be contacted on Phone No 97050 44811. If traced the details may be shared and the informant will be rewarded.

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