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 (non-resident Indian) police station here.
Wanted in Rs 81-crore scam, a factory owner was on Thursday arrested from the New Delhi domestic airport and detained at the NRI (non-resident 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 `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 Gurmail Singh and Canadian citizen Gurdev Singh. The property was at Jugiyana village and the fraud was 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. Balbir Singh and Sham Singh, numbardars of Gobindgarh and Mundiyan villages, respectively, also helped them," said the SHO.
Against the plot, Jagjit Singh secured a loan of `59 crore from Punjab National Bank and Oriental Bank of Commerce but defaulted on the payment of instalments and the liability mounted to `81 crore. The fraud came to light when the banks traced the actual owner and served him notice.
Gurwinder Singh, son of one of the owners, late Gurmail Singh, had lodged the complaint in September 2013 and, later, the case was transferred to the NRI police station.