fraud by franchisee business by Male square retails pvt ltd, Ahmedabad

  0 (Goal: 50)

Petitioning: male square retails pvt limited, Ahmedabad

Petitioner: Shirish started on August 28, 2017

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
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