Delhi Police EOW arrested director of a company from Mumbai for alleged fraud and siphoning off funds
New Delhi, August 30
The Economic Offences Wing (EOW) of Delhi Police director of company who in an alleged connivance siphoned off money after cheating investors.
The accused was identified as Mohammed Fasihuddin from Oshiwara Commercial Complex. The FIR was registered against him in June 2017 under sections 420/409/467/468/471/120B of the IPC.
As per the case details, the EOW had received complaint of G.V Rao, authorized representative of M/s Planetcast Technologies Ltd (formerly known as M/s Essel Shyam Tech Pvt. Ltd) where he had stated that Rishabh Pathak, Assistant Vice President, Wood House Capital Advisors P. Ltd. had approached him in Sept. 2013. He offered 10.75% interest at fixed deposit with PNB. It was represented that he was acting on behalf of one Ravi Rajput and Vimal Barot from Mumbai.
The required documents i.e. application form, company incorporation certificate, KYC documents were handed over to Rishabh Pathak for opening of Bank Account and FDR in the name of the company. Subsequently alleged persons had opened one current account No. 0550002100240913 in Punjab National Bank, Andheri West using the KYC documents provided by the complainant however, the signatures on the application forms etc. were forged.
After opening of the account the complainant had transferred a sum of Rs. 4.65 Crores through RTGS to this account. There after an FDR worth Rs. 4.65 Crores was got issued vide FDR No. 055000GR00000139, in the name of the complainant company. After that the accused had availed overdraft facilities worth Rs. 4.08 Crores against the said FDR by forging the signatures of the complainant company and siphoned of the said money, stated as per the complaint.
The EOW, during investigation found that the overdraft A/c No. 05500093101020737 was bearing the corresponding address as 38, Oshiwara Link Plaza, Jogeshwari East, Mumbai which belongs to accused Md. Fasihuddin. Also the Fixed Deposit A/c No. 055000GR00000139 opened in the name of Complainant Company was having corresponding address as 38 Oshiwara Link Plaza. Apart from this the interest amount paid from account No.0564000400014543, PNB, Worli Naka, Mumbai to the complainant company’s account was maintained in the name of M/s Showman Hospitality Pvt. Ltd. As per the AOF and other documents of M/s Showman Hospitality Pvt. Ltd, it has been found out that the accused Mohammed Fasihuddin S/o Md. Imityazuddin is the Director and authorized signatory of the said company.
The EOW is further investigating the case.
