HAYR! Proven Scam and Ponzi Scheme | Shared Automobile Mohali HAYR CarShare. What is the plan? This company is based out of Mohali, Punjabi India and is based out of shared car service. It tells people that it works like Ola and Uber only, but you can invest in cars and get a return on the number of rides. After studying the whole business plan and people complaining all over Delhi, Punjab area it seems to be proven MLM and Chit Fund Scheme. [Section 2(b) of the Chit Funds Act, protected] They disinform to have a valuation protected crore in 3 years. On their website (www.hayr.in) they have stated that Harjeet Singh runs this Multi-Level Marketing from Mohali. HAYR has not released their mobile application yet, neither will ever, and already have started looting people with subscriptions for the service. The fraud scheme is taking advantage of Zoom Car, Ola and Uber services market and is trying to rob people on the growth and share income of cars. By date, neither of the company in India is profitable and project to get cash positive in the coming decade. In such scenario HAYR, not only has confirmed that they are profitable, but they are also ready to share a fair amount of profit with people who invest in their cars. The company has not paid their workers from the last few months, and videos of management abusing the workers have been viral in the city. A consumer Pramod Kumar from Mohali had invested Rs.2,protected,protected in HAYR cars and was told to get at least Rs.protected,protected,protected per month that becomes around Rs.7,protected,protected in a year, which is about protected% percent return of the capital which is too good to be true. After investing a month, Pramod contacted the company for his return, and the company has not been able to pay the return but also doesn't seem to spend the initial capital. The management has been threatening the consumers by abusing and showing the support of local police officers in the city. Many people to this date have been scammed and complained to police, but it looks like the city officials are a part of the overall scam. False claim to have a tie-up with Nissan, Has been frauding the subscribers by Five lacs of investment per Datsun Redigo car, which prices 3.protected in the Market. HAYR is looting everyone associated in the chain and encourages existing members to make other people join, mostly their friends, family, and relatives. Due to explaining such high returns, people invest and start spreading the same with other people. MD Harjit Singh is not giving the salaries, and consumers have filed complaints in consumer court of Mohali. It's been reported that HAYR has stopped the services and have lakhs of rupees in unpaid salaries and unshared profit. In the memorandum, they are showing this investment as an unsecured loan and using that money in asset creation. Which is money laundering in FRAUD AND THE COMPANIES ACT, protected [Embezzlement of Cash in Balance Sheet] Our Verdict: Definitely a scam, a crime which has affected in a loss to all its investors, consumers and drivers. HAYR doesn’t possess a shared taxi license deal to operate in India, neither has an application in the market yet and just creating a bubble of capital in the Ponzi scheme to cleary burst and burn the hands of its investor. To this date January protected there still hasn't been any car on the road. Just be beware and stay far from this scam.