CBI ARRESTS A PARTNER AND A DIRECTOR OF TWO SEPARATE PRIVATE FIRMS IN AN ALLEGED BANK FRAUD CASE OF RS. 17.34 CRORE (APPROX)

Press Release
New Delhi, 30.05.2017

           The Central Bureau of Investigation has arrested a Partner of a private firm based at IMT, Manesar, Gurgaon (Haryana) and a Director of private export firm based at Delhi, both residents of DLF phase-I, Gurgaon in an alleged Bank Fraud Case of Rs 17.34 crore (approx).

           A case was registered on 08.03.2016 U/s 120-B r/w 420 of IPC and 13(2) r/w 13(1)(d) of PC Act, 1988 against three partners of private firm based at IMT, Manesar, Gurgaon; a private person and other unknown officials of Oriental Bank of Commerce LU Branch, Pitampura, Delhi & unknown persons. It was alleged that a partnership firm having office at Sector – 6, IMT Manesar, Gurgaon availed credit facility of Rs. 23.50 crore (approx) from Oriental Bank of Commerce, Pitampura Branch, Delhi by mortgaging the property of a private person (named in FIR) situated at Kamayani Kunj, IP Extension, Patparganj, Delhi. The account turned Non-performing Assest (NPA) with outstanding balance of Rs. 17.34 crore (approx) on 17.12.2014. It was revealed that property papers of said private person mortgaged with Bank were forged & fabricated as till date Delhi Development Authority (DDA) has not granted free hold rights and not executed the conveyance deed of the flat to anybody. It was also found that funds of the credit facility have been diverted / siphoned off through various sister concerns & also various dummy accounts opened in the name of their employees by using their KYC documents and misappropriated the same.

           Two more cases related to said accused were registered in CBI. One of them is under trial and another case is under investigation. The total fund involved in all three cases is more than Rs.41 crore (approx).

           Both the arrested accused were produced before the Designated court at Rohini, Delhi. Presently, both the accused are under Judicial custody.

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