Shine City Group's vice president arrested in investment scam

23 Sep 2024 CW Team

The Vice President of Shine City Group, who had defrauded numerous people out of crores under the guise of investment in plots and the stock market, has been arrested. According to ADCP North, Jitendra Kumar Dubey, a reward of Rs 50,000 had been placed on the accused, Manish Jaiswal, who had been evading the police for nearly a year. Dubey further mentioned that fraud cases against Manish had been filed in both Lucknow and Prayagraj.

Inspector Vipin Singh of Vikas Nagar stated that Manish had misled many individuals with false promises of providing land at low rates and on easy instalments. He also deceived victims by guaranteeing to triple their investments in company schemes, taking money from people only to swindle it. Manish would lure investors by offering to double or triple their money quickly through recurring deposits. Over 500 cases have been registered against this company in Uttar Pradesh, and 62 individuals have already been imprisoned.

At the time of his arrest, Manish was residing in Vikasnagar, Sector 3, though he originally hailed from Mutthiganj in Prayagraj. In July of this year, the police apprehended Gyan Prakash Upadhyay, the company's president. However, the company's Chief Managing Director (CMD), Rashid Naseem, remains at large, believed to be hiding in a Gulf country, with a ?5 lakh reward now announced for his capture.

The Shine City scam first came to light in 2013. Since then, 554 cases of forgery, criminal breach of trust, and related offences have been filed across various police stations in Lucknow, resulting in the arrest and imprisonment of 62 individuals associated with Shine City and its affiliated ventures.

Real Estate

02 Apr 2026

Indian real estate attracts USD 1.4 bn institutional investments in Q1 2026: Vestian

Institutional investments in India’s real estate sector touched USD 1.4 billion in Q1 2026, marking the highest first-quarter inflow since 2022, according to Vestian. While investments fell 62 per cent quarter-on-quarter due to an exceptionally high base in the previous quarter, they rose 74 per cent compared to the same period last year, reflecting sustained investor confidence despite rising geopolitical and macroeconomic challenges.Commercial real estate remained the key driver of investment activity during the quarter, accounting for 80 per cent of total inflows, sharply higher than 38 p..

VECV crosses 1 lakh annual vehicle sales milestone in FY26

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, has surpassed the 1 lakh annual sales mark in FY 2025–26, recording its highest-ever commercial vehicle sales performance. The company said it sold more than 100,000 vehicles during the year, marking a major milestone aligned with the original vision of the Volvo–Eicher joint venture.The strong performance was supported by demand across categories. Light and Medium Duty (LMD) trucks contributed 47,789 units, accounting for 46.1 per cent of total sales. Heavy Duty (HD) trucks recorded 26,867 units (25.9 pe..

Rodic Digital & Advisory partners SatSure to deploy EO intelligence in public sector

Rodic Digital & Advisory (RDA), the strategic advisory and digital transformation arm of Rodic Consultants, has signed a strategic cooperation Memorandum of Understanding (MoU) with SatSure to jointly pursue opportunities in India’s public sector. The collaboration aims to integrate high-resolution Earth Observation (EO) data and geospatial AI into government workflows to strengthen monitoring, compliance, and operational decision-making across key sectors.The partnership combines SatSure’s Earth intelligence capabilities with RDA’s expertise in government digital transformation and ..