Rediff India Abroad
 Rediff India Abroad Home  |  All the sections

Search:



The Web

India Abroad




Newsletters
Sign up today!

Article Tools
Email this article
Top emailed links
Print this article
Contact the editors
Discuss this article


Home > News > PTI

Delhi: Police unearth major corporate fraud, one held

June 26, 2006 18:25 IST

The Delhi police unearthed a multi-crore corporate fraud and arrested the kingpin of the racket, a hotelier who allegedly cheated as many as six major banks in Delhi by extracting loans furnishing forged documents.

Parveen Juneja, the owner of restaurant chains, was arrested by the Economic Offences Wing of the Crime Branch on Sunday after a complaint was filed against him by the Okhla branch of the Jammu and Kashmir bank, Additional Deputy Commissioner of Police K K Vyas told reporters.

According to the complaint, Juneja, posing as the corporate finance director of Shamkeen Spinners Ltd, had taken a loan of Rs 5 crore from the bank in 2002 for purchase of machinery from three companies.

However, later it came to light that the three firms -- Amba Traders, Abro Marketing and Machines Pvt Ltd and Shiv Shakti Enterprises -- were fake and the documents furnished in their names were forged.

Police soon found out that the accused and his partners H B Chaturvedi and Amit Chaturvedi, managing director and joint director of Shamkeen Spinners respectively, had transferred the money to the accounts of their sister concerns -- Shamkeen Multifab Ltd, Shyam Fab Enterprises Pvt Ltd and Vrindavan Marketing.



© Copyright 2006 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
Share your comments

Advertisement






Copyright © 2006 Rediff.com India Limited. All Rights Reserved.