The Malabar Hill police have arrested a diamond trader for allegedly duping Bajaj Auto Finance Ltd of Rs30 lakh.
The Malabar Hill police have arrested a diamond trader for allegedly duping Bajaj Auto Finance Ltd of Rs30 lakh. The trader had mortgaged his Navi Mumbai row house, valued at Rs85 lakh, by submitting forged documents with a fake government seal and availed the loan of Rs30 lakh.
“Amit Shah, 29, resident of Malabar Hill, has been booked for forgery and cheating on June 26 and remanded in judicial custody till July 19 by the Girgaum metropolitan court,” said a police officer from Malabar Hill police station.
During Shah’s interrogation, it came to light that the Economic Offenses Wing (EOW) of Mumbai police had registered a cheating, forgery and criminal conspiracy case against him earlier this year for allegedly duping the Reliance Capital Ltd to the tune of Rs72.75 lakh by submitting forged documents. In this context, Ravi Prakash Shukla, officer of Reliance Capital Ltd, filed the complaint against Shah, said the police officer, adding that the EOW is yet to arrest him in the case.
Shah, proprietor of ASR Diamonds located in Pratik Arcade at Opera House, mortgaged his row house no 4, Ganesh Villa, Plot no 27, Parsik Hill, Sector 26, Belapur to the Bajaj Auto Finance Ltd to avail the loan for his business. He also submitted bank statement, domicile proof, pan card photocopy along with the row house documents in April 2009. The loan amount of Rs30 lakh was disbursed by April-end.
The fraud came to light in December 2009 when Shah refused to pay the monthly instalment of Rs50,254 to finance company. The officials of the company then tried contacting him at his Opera House office and Malabar Hill residence several times. But Shah was not available.
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