Delhi police bursts racket involving officials of NBFC, held 3
Oct 23, 2020
New Delhi [India], October 23 : Economic Offences Wing (EOW) of Delhi Police busted a racket involving officials of the non-banking financial company (NBFC) and their accomplices and arrested three accused in the case, the police said on Friday.
As per the official statement of the police, the racket was involved in disbursal of loans of more than 23 crores on fake documents.
"A complaint was filed by NBFC Hinduja Leyland Finance Ltd. in EOW alleging therein that one Amrit Mann, a Direct Selling Agent (DSA), Nilanjan Majumdar, a Sales Manager and Nitesh Kumar, a Regional Manager were supposed to source genuine proposals of applicants seeking Loan Against Property (LAP) from Complainant Company," the police said.
According to police, the complaint said the alleged Amrit Mann who runs a sales agency "FUNDWIZZ" in connivance with Nilanjan Majmudar (Sales Manager in Complainant Company) and other persons sourced deals from firms seeking loans against properties.
"As there were regular defaults in repayment of these loans, the complainant company conducted physical verification and it was revealed that addresses as well as particulars of borrowers are false and manipulated. A case was registered and an investigation was taken up," the police said.
During the course of the investigation, police found that the documents and individuals involved in the matter were verified and it was revealed that accused persons created fake documents and used them for obtaining a loan from the complainant company.
The investigation also revealed that officials of NBFC were also hand-in-gloves with other accused and they deliberately avoided due diligence while verifying the documents and credentials of applicants.
"During the investigation, two co-accused persons were arrested earlier and they are running in Judicial Custody. However, it was found that this is a large racket and all the accused persons hatched a well-planned conspiracy in order to dupe the complainant company," the police said further.
Police found that fake documents of properties have been used for obtaining the loans, and it also emerged that in some cases sale deed was registered from actual owners on the basis of post-dated-cheques (PDC) and mortgaged the property for taking huge loans.
"PDCs issued to actual sellers in pursuant to sale deed was later on stopped and resulted in dishonouring of said PDCs," it stated.
The detailed investigation by EOW revealed that all the accused persons executed their criminal design through a well-planned conspiracy, where mastermind Amrit Mann created a sales agency called "FUNDWIZZ" in connivance with one of the Sales Managers of the complainant company.
"Accused Nitesh Kumar who was Regional Manager in the complainant NBFC in connivance with Nilanjan Mazumdar, Amrit Maan and other borrowers got six loans sanctioned against the properties on fake documents," police added.
Police have arrested Nitesh Kumar, the Regional Manager and Akash Bartaria brother of earlier arrested accused Amit Bartaria. Another lady, wife of mastermind Amrit Maan has also been arrested by EOW team from Pune. The lady has been absconding and evading police for long.
"All the accused persons were produced in the designated court. Further investigation is in progress," police added further.
