Factory owner in Rs 81-cr scam held | punjab | Hindustan Times
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Factory owner in Rs 81-cr scam held

Wanted in Rs 81-crore scam, a factory owner was on Thursday arrested from the New Delhi domestic airport and detained at the NRI (nonresident Indian) police station here.

punjab Updated: Apr 18, 2014 10:13 IST
HT Correspondent

Wanted in Rs 81-crore scam, a factory owner was on Thursday arrested from the New Delhi domestic airport and detained at the NRI (nonresident Indian) police station here.


Jagjit Singh, owner of NKH Garments here, is proclaimed offender in a case of forging documents of an NRI’s plot and securing a loan of Rs 59 crore against it.

About six months ago, the Focal Point police in Ludhiana had registered the case, accusing him of producing two fake owners for the registration of the property in his name.

Surjeet Singh and Gurnam Singh of Shimlapuri and property dealer Onkar Singh, Jagjit’s alleged accomplices in the crime, have also landed in police net.

NRI police station SHO (station house officer) Gurpreet Singh Bhinder said property dealers Onkar Singh and Tarsem Singh Sodhi had helped Jagjit prepare fake registry of three pieces of land that belonged to late Gur mail Singh and Canadian citizen Gurdev Singh.

The property being mentioned was at Jugiyana village and the fraud was reporteed to have been committed in March and November 2010.

“The accused had produced Surjeet Singh and Gurnam Singh of Shimlapuri before land registrar as owners Gurmail Singh and Gurdev Singh, unaware that Gurmail Singh was no more ,” said the SHO.

“Balbir Singh and Sham Singh, numbardars of Gobindgarh and Mundiyan villages, respectively, also helped them,” station house officer Gurpreet Singh Bhinder further said.

Against the NRI’s plot, Jagjit Singh secured a loan of Rs 59 crore from Punjab National Bank and Oriental Bank of Commerce but defaulted on the payment of instalments and the liability mounted to Rs 81 crore.
The fraud came to light, later, when the two banks traced the actual owner and served him notice.

Gurwinder Singh, son of one of the owners, late Gurmail Singh, had lodged the police complaint in this regard in September 2013 and, later, the case was transferred to the NRI police station.