Hundreds of investors who claim to have lost their savings in the Canwiz investment scheme have begun an indefinite hunger strike at Damodar Park near Chowki Chauraha in Bareilly, demanding the return of their money. The protesters allege that the company lured thousands of people with promises of high returns and doubling their investments within a short period before allegedly stopping payments. They claim that the lack of effective action against the company’s main accused, Kanhaiya Lal Gulati, and other individuals associated with the firm has forced them to take to the streets in search of justice.
The protesting investors claim that more than 60 criminal cases have been registered against the company and its promoters in different parts of the country. They allege that despite multiple complaints, the principal accused has not been arrested. According to the protesters, whenever investors approach the company’s offices to seek repayment, they are allegedly served with legal notices instead of receiving their money.
Several investors shared accounts of severe financial hardship during the protest. Seventy-five-year-old Dulari Devi claimed that she had invested ₹70 lakh after selling her land. Urmila Devi said she invested around ₹22 lakh, including savings meant for her daughter’s wedding and her retirement. Both alleged that they were promised their investments would double within a fixed period, but they have not recovered their money.
Other investors also described significant financial losses. Pankaj Tripathi claimed he mortgaged his vehicle and took a gold loan to invest ₹7 lakh. Ramlali claimed to have invested ₹19.5 lakh, Gyan Prakash Saxena ₹50 lakh, Virendra Pratap Verma ₹42 lakh, Mohan Maurya ₹12 lakh, Vimlesh Kumar ₹18 lakh, Ajay Pal Singh ₹35 lakh, Om Prakash Gangwar ₹2 lakh, Rakesh Deval ₹17 lakh and Narendra Chaudhary between ₹10 lakh and ₹12 lakh. Many of them said they had raised money by selling land, taking bank loans or borrowing from other sources, leaving them under severe financial stress and struggling to repay loan instalments.
Some investors alleged that the cheques issued against their investments had bounced or were never honoured. Others claimed they were now being asked to produce proof of their investments despite already pursuing legal remedies. A few protesters also alleged that they had received threats after demanding the return of their money.
The protesters have demanded the immediate arrest of Kanhaiya Lal Gulati and other accused, attachment of their movable and immovable assets, recovery of investors’ funds and a fair, time-bound investigation followed by strict legal action against those found responsible. They have declared that their indefinite hunger strike will continue until concrete action is taken.
However, the company and the accused have not publicly responded to these allegations. The matter remains under investigation and judicial proceedings are ongoing. The protesters have warned that if prompt action is not taken, they will intensify and expand their agitation in the coming days.
