Complaint points at suspicious payments made to certain rice mills and traders by the accused company.
Similar cells dedicated to preventing the menace may also come up in every state.
NEW DELHI
A nationalised bank based in the heart of Delhi’s upscale Khan Market has allegedly been duped of at least Rs 13 crore by directors of a company engaged in trading of luxury watches, writing instruments, belts and other high-end products from outlets in malls like DLF Emporia and Ambience Mall in south Delhi.
The alleged offence has left the bank’s recovery department with no other option, but to seek CBI’s help for action against the accused in the case of “premeditated cheating”. The bank alleged in its complaint that the accused siphoned off the funds allowed by it and diverted them for their personal benefits and gains, thus, causing wrongful loss to it. CBI sources said a case under penal sections dealing with cheating, conspiracy, falsification of accounts and forgery have been registered in the matter.
The bank complaint identified the accused as Jot Impex, Gurinder Singh Sahni, Rajinder Kaur and Baldev Singh Sehgal; all three were directors of the company.
The complaint by bank’s official Nishi Kant Gaur has also urged CBI to investigate “roles of unknown public servants and unknown others, if any, having obtained wrongful gains to the aforesaid accused.” The CBI is now looking into the bank’s complaint which alleges that the account was red flagged in 2016 and a forensic audit ordered. The audit revealed several transactions, linkages and instances where irregularities were observed in related parties dealings and misutilisation of funds.
The audit report also highlighted that on verification of the end use of funds, it appeared that “diversion of funds” had taken place in real estate to the tune of Rs 13.65 lakh, personal credit card payments to the tune of Rs 17.15 lakh, vehicle payment of Rs 4.70 lakh and home loan payment of one of the directors to the tune of Rs 33.65 lakh.
The complaint also pointed towards suspicious payments made to certain rice mills and traders by the accused company. The payment “contradicts with the genuineness of the transaction, as the borrower basically engaged in trading of luxury goods and the payment is made to a rice mill company”, said the bank complaint.
The bank said in its complaint that Jot Impex provided an incorrect valuation of inventory, submitted falsified and inflated stock statements and wrongfully disposed of the stocks hypothecated with the bank. The bank officials also accused the firm of understating expenses and liabilities.
“The said act on the part of the above named suspects manifests the offence of conspiracy, cheating, fraud and criminal breach of trust committed by them against the lenders and misappropriation of public money, causing wrongful personal gains and wrongful loss to the lender,” the bank said.
The CBI also plans to look into the bank’s allegations that accused company and its directors, with dishonest and fraudulent intention, had created bogus and fictitious entries, fabricated documents, receipts, vouchers, bills and other valuable securities, falsified books of accounts, created false/fictitious liabilities and execute frivolous documents.