NMart is a larger racket than one imagined. It is owned by one Shekhawat, who claimed with a document writer in Vijayawada while registering a lease agreement that he is the relative of former vice-president of India Mr Bhairon Singh Shekhwat and his apologists claim that he is the relative of the President of India Mrs Pratibha Patil Shekhawat.
This fellow has already started several retail shops all over India and has been aggressively recruiting members with an initial payment of Rs. 5,500 and offering Rs. 200 commission for every enrollment. In Vijayawada and its neighbouring areas alone, the NMart has already collected Rs. 15 crore.
The other day, a document writer told me that while he was riding an auto rickshaw, the driver asked him to become a member of NMart. That is the aggressive type of enrollment that has been going on.
On one hand, the police are inquiring into the business model of NMart and on the other, CID police of AP have also undertaken investigation.
Once the new entries stopped coming in, the fish would be out of water. By that time, a sizable number of people would lose their money. However, since it is only Rs. 5,500 and some people might have earned some money as commission through enrollment. There may not be many complaints against the company. However, the CID would probe into the scam and Corporate Frauds Watch hopes that the culprits would be brought to book.