New Delhi: CMD of notorious NBFC (Non-banking Financial Company) JVG group, Vijay Kumar Sharma, has once again grabbed limelight due to his dubious activities. The defamed JVG group head has been detained by Delhi Police for promising unrealistic returns on investments to the people.

Vijay has been charged for persuading people to invest in Viaan Infrastructure and PSG Developers and Engineering Limited. Sharma is believed to have raised Rs 1,000 crore so far. Two years back, Vijay was declared absconder by the Police. The police had also announced a prize of Rs 1 lakh on Shama’s head. A licensed pistol has also been recovered from his possession.

Earlier, he was arrested by Mumbai Police in 1999 in JVG fraud case. Additional Commissioner of Police (Crime Branch) Ravindra Yadav said that Vijay got bail from the Supreme Court after spending 16 months in jail. After being released from jail, Vijay again started deceiving investors with the help of two other companies in 2005-2006. Vijay used to convince investors of providing cheap plots. After raising crores of rupees, he again went absconding after which ten different cases were registered against him.

HISTORY OF VIJAY SHARMA
- Vijay started his career as a building material supplier form 1979 to 1989 in Delhi
- He ventured in investment business by launching a real estate investment company- JVG group over two decades back
- He raised hefty funds by persuading people to invest in JVG enclave on Dadri road, Chaudhary Charan Singh Awas Yojna in Meerut, Jai Prakash Yojna in Patna
-  Sharma also attracted investments in various businesses like newspapers, departmental stores, JVG food, petrochemicals, and hotels
- Companies’ turnover jumped to Rs 700 crore in 1995-96 from Rs 100 crore in 1994-95
- Business was shut down after intervention from SEBI and RBI

Later the Supreme Court quashed the bail granted to Sharma and ordered him to appear before it. But he continued to remain absconding afterwards. Finally, Sharma was taken into custody by the police while he was driving his Mercedes car in Delhi on Monday.    

Vijay Sharma belongs to a humble family background. His father was a teacher in Haryana. Vijay stated his career as a building material supplier form 1979 to 1989 in Delhi. He ventured in investment business by launching a real estate investment company in the name of JVG group. Later, he raked money by persuading people to invest in real estate projects like JVG enclave on Dadri road, Chaudhary Charan Singh Awas Yojna in Meerut and Jai Prakash Yojna in Patna.

JPN/Bureau

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