DWA
Depositors Welfare Association is a voluntary association which strives for the Welfare of depositors in NBFC, RNBFC and CIS schemes. The association odes the duty of surveillance and monitoring of deposits in different groups and companies.
If any member of our association complains about cheating by ponzy groups, we bring the matter to the notice of SEBI, RBI, CID etc and help the beguiled depositor gets justice. We warn the members of our association about bogus companies and groups to beware of such entities. We collect the data pertaining to deposit collecting groups and appraise their legal validity. We periodically check from RBI, SEBI and other Regulatory authorities whether such groups are permitted to carry on deposit collecting business. We ensure that the hard earned money of gullible depositors is not usurped by ponzy entities operating in both the Telugu states of Telangana and Andhra Pradesh. We have a large network of experts in financial and legal matters.
The Crime Investigation Department of undivided A.P. State has caught many of such companies, seized their properties and freezed their bank accounts. Still such ponzy schemes are operating in the states of Telangana and Andhra Pradesh. It is the duty of Depositors Welfare Associations to see that such operators are fixed and get the deposits refunded to the innocent and gullible depositors.
The Modus operandi of all these ponzy entities is akin in the guise of Real Estate promoters, developers, Super market operators, Jewelry business and such other speculative businesses which are prohibited by APMACS, SEBI and RBI. The promises may be tall but ultimately collapse and the innocent and gullible depositor will be robed of this life time savings