Ludhiana. SP Oswal, chairman of the famous textile-spinning company Vardhaman Group, was defrauded of Rs 7 crore. The fraudsters threatened them with arrest and defamation in the name of Supreme Court order. Sent them fake warrants for sealing property and arresting them. After which the money was taken from them. When SP Oswal got wind of the fraud, he lodged a complaint with Ludhiana Police. The police have registered a case against the accused and arrested a thug.
SP Oswal, owner of Vardhaman Group, has been honored with the Padma Bhushan Award by the Central Government in the year 2010. Vardhaman Group is one of the renowned companies of the country. Today, apart from India, this group also has many branches in foreign countries.