Kota, October 28 (Udaipur Kiran): The Hriday Credit Co-operative Society of Udaipur has been accused of embezzling ₹1.70 lakh from an investor through fraudulent means. Acting on a complaint filed by Bhaskar, a resident of Vigyan Nagar, Judicial Magistrate Court No. 2 in Kota has directed that a criminal case be registered against five officials of the society — including its chairman, director, and treasurer — under charges of criminal conspiracy, cheating, and violations of the BUDS Act.
According to advocates Naresh Swami and Sujit Swami, Bhaskar’s parents invested ₹1.70 lakh in the society’s “Jeevan Aadhaar Yojana” scheme in 2018–19 after being influenced by its attractive advertisements. When the investment matured, Bhaskar requested repayment, but the society allegedly delayed payment citing the COVID-19 pandemic and extended the scheme for another year.
In 2022, after Bhaskar’s father passed away, he again demanded the maturity amount. However, the society neither returned the principal amount nor paid any interest. Instead, the officials allegedly issued two cheques, which were later withdrawn under the pretext of a “changed bank account,” and no replacement cheques were ever given.
After receiving a legal notice from advocate Naresh Swami in April 2025, the society refused payment, claiming a shortage of funds. With no action taken despite a complaint to the city SP, Bhaskar approached the court, which has now ordered registration of the case.
Advocate Sujit Swami stated that Bhaskar’s late father, who worked with IL Company, had invested his life savings in the scheme, but the society’s officials deceitfully misappropriated the amount. He also added that the same society had earlier faced a similar cheating case registered at Dadabari police station.
Following this fresh complaint, a new case has been ordered to be filed at the Vigyan Nagar police station. Swami urged that the accused be arrested soon, as more victims may come forward once strict action is taken.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
