noida fake company ablaze
noida fake company ablaze

Noida fake company Ablaze duped 7 lakh people for 3,700 crores in a trading scam busted by Uttar Pradesh special task force (STF).

The beginning

Anubhav Mittal ( 26, a b-tech graduate), Sridhar ( 40, an MBA graduate), and Mahesh Dayal (25) were running a Noida fake company Ablaze Info. Solutions.

They had floated a fake company called Ablaze Info Solutions Private Limited that operated from Noida. The trio had launched Social Trade as a pyramid scheme in 2015. As a consequence, this lured people to earn a well sitting at home.

“They enrolled people with subscription money ranging from Rs. 5,750 to Rs. 57,500. The investors were given a user id and password and told they would get random URLs on their phone. Each like would fetch them Rs. 5,” said Amit Pathak, senior superintendent of police.

noida fake company ablaze

Lodging of FIR against Noida fake company Ablaze Solutions

Soon after the lodging of a first information report (a FIR) at Soorajpur police station in Noida, these 3 were under arrest. Also, this happened after investors started alleging that they were not getting their share of the money.

Moreover, around 6.5 lakh people had deposited over Rs 3,726 crores in the company’s account through over 9 lakh IDs.


At this point, Rs 520 crores deposited in 12 accounts of company Canara Bank, Kotak Mahindra Bank, Yes Bank and Axis Bank have come out, as a result of the probe.

Moreover, the Special Task Force team that raided the office found 250 passports. Furthermore, these are the high performing employees of the fraudsters. A trip to Australia was the reward for their work.

Also, the STF has now knocked on to the doors of RBI, Income tax department and Securities and Exchange Board of India, for further actions in the matter.

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