To save Surat textile traders from being cheated by “fly-by-night” firms, the police department in the city held a meeting with stakeholders from various markets in the Saroli area on Thursday.
Explaining how the cheating takes place, a police officer said, “These firms rent shops in various textile markets and begin purchasing sarees and dress materials on credit for a period of 60 days. To gain trust of the people in the industry, they initially make timely payments. However, after a few more business dealings, they begin defaulting on payment by shutting down their shops and vanishing without a trace, leaving their debts unpaid.”
To prevent a recurrence of such incidents, Saroli police station personnel contacted the maintenance or administration department officials of 17 different t