Owner fails to repay loans for his ‘hot wheels’

Gaurav Dave, an owner of an RO plant unit, has defaulted for car loans on five expensive cars, namely one Audi A4, Audi A6, a Nissan, a BMW and one Skoda car.

He acquired the loan from Reliance Capital Ltd. Dave neither repaid the loan nor gave the cars back. Priyavatsinh Charan, the manager of the company has filed a complaint at Navrangpura police station in this regard.
Navrangpura police was directed by Metropolitan court to investigate in the matter. Dave took a loan of Rs1.20 crore and purchased five high-end cars.

However, he failed to repay the loan. As per the complaint, cheques provided were not realised and they bounced. "When men were sent to take custody of the cars, they were beaten up and denied the cars," the manager mentioned in his complaint. The company later, reportedly planned dragging him to court.

Navrangpura police are investigating the matter. Dave owns three houses and is also an entrepreneur. The cars, however, are still with Dave and Reliance capital Ltd is struggling to seize them.