Sairo Foods Pvt. Ltd - Fraudulent Business

Mr. Bhaskaran T. Narayanan of Sairo Food Products Pvt Ltd had posted an advertisement in Mumbai’s prominent newspaper in the month October/November **** stating that he is a manufacturer of Juices and Energy Drink. We contacted him and we met on **-November-**** at Gaylord Restaurant at Churchgate, Mumbai and informed us about his business strategy for sales all over India. He was looking for Super Stockiest for different states of India.

He gave his background as a successful businessman in the Middle East for many years and now wanted to retire and settle in his hometown in Selam, Tamil Nadu.

Both parties signed the mutual agreement (as attached) dated **-December-**** at our admin office premise at Churchgate assigning us exclusively as the Super Stockiest in the district of Mumbai, Navi Mumbai, Thane, Palghar, Raigad, Pune and Nashik in the state of Maharashtra. Other sales terms, etc were also mentioned in the agreement.

Token amount of Rupees (Rs *,**,***/-) One Lakh One Only was given to Mr. Bhaskaran dated **/**/** (Chq No ******) followed by * trucks advance payment of Rupees (Rs. **,**,***/-) Ten Lakh Only dated **/**/**** via bank transfer – NEFT (bank statement attached).

We received the first consignment on **-January-**** at our warehouse i.e. Prabhu Hira Ice & Cold Storage Ltd at Sanpada followed by a sales meeting with the sales staff on **-February-**** headed with Mr. Paresh (**********/**********) and Mr. Shailesh Gandhi (**********).

Thereafter, Mr. Bhaskaran insisted for continues supply and no shortage of material in the market told us to remit two more payments of Rupees (Rs. **,**,***/-) Ten Lakh Only dated **-February-**** and Rupees (Rs. *,**,***/-) Four Lakh Ninety Three Thousand Two Hundred Seventy Two Only dated **-March-**** via bank transfer – NEFT.

We received the second and the third consignment dated **-Feb-**** and **-June-**** respectively.

Dispatch of goods started from the month of February **** for which Mr. Bhaskaran promised us that the delivery costs i.e. transportation, octroi, etc will be reimbursed to us soon. Debit Notes were raised from time to time and sent to them via email but we were always assured that payments would be made soon but never received anything. Then all of a sudden the sales team vanished. We believe they had not received their salaries and expenses from Sairo Food Products Pvt Ltd.

Since our role was only to stock and deliver goods and not market and sell the goods we had no control over the Sales Team. Any pending payments we would ask for the team would say to consult MD i.e. Mr. Bhaskaran.

Thereafter many Salas Managers were appointed named Mr. Anthony John, Mr. Deepak Chhabria (**********) , Mr. Anis (**********/**********), Mr. Sunder Iyer (**********), Mr. Narendra Gawli (**********) and Mr. Ajay Tiwari (**********) but without any hope as they were also not paid the previous month’s salary and expenses.

Later on we got to know that Mr. Bhaskaran had appointed other Super Stockiest in different areas without our knowledge. By now we had understood that Mr & Mrs Bhaskaran may have duped several others sales and marketing people with the same modus operandi.

Others duped in the same way have been named below however there might be many more in other cities of India.

*. Brilliant International LLP - Mumbai. Mr. Bipin Chainani (**********)
*. SS Enterprises - Nagpur. Mr. Satish Narayanan (*********)
*. Mr. Mayur - Mumbai (**********)
*. Mr. Jignesh Pathak - Ahmedabad (**********)

Now, all goods supplied have passed the expiry date of * months from date of manufacture. In total we received * consignments of juice in which * consignment is lying at the warehouse the way it is (untouched) and from another consignment *** cartons are in stock. Hence we have around ****+*** i.e. **** cartons in stock-in-hand. The stock is still at the warehouse for which we have to bare the rent of expired goods.

We tried to contact Sairo Foods on a number of occasions via email and telephone but without any hope. In the month of December **** they replied that in the first week of January **** they would clear the account by sending the advance payment back, clearing all stocks and dues. When contacted, they sent a mail that the process would be done later without any given date.

Dues recoverable from Sairo Food Products Pvt Ltd are:
Local Sales – *,**,***/-
Nagpur Sales – *,**,***/-
Advance Payments incl Token – **,**,***/-
Debit Notes – **,***/-
Stock-in-hand valuation at Cost Price – *,**,***/-
TOTAL – **,**,***/-

We request you to check Sairo Food Products Pvt Ltd bank account statement of Syndicate Bank – Fairyland Salem Branch bearing A/c No ************** and you may see funds received from various parties including us.

We request all the authorities to investigate this matter very seriously.

For Qpic Products Pvt Ltd


Karan Parkash
+** *****-*****
Authorized Signatory

Encl:
Mr. Bhaskaran Swamy Thulasiraman – Photo