E-Paper
5 of Ludhiana family booked for not returning ₹4.3-crore loan
The FIR has been registered on the basis of the probe carried out by senior Ludhiana police officials following the complaint submitted by Arun Kumar, chairman of Garg Fasteners of Shaheed Bhagat Singh Colony
Police have booked five members of a Ludhiana family for allegedly duping an industrialist and his kin of ₹4.33 crore, officials said on Sunday.
The accused have been identified as Sudesh Kumar Gupta, his sons Harish Kumar Gupta and Kapil Gupta, Kapil’s wife Poonam Gupta, and Harish’s wife Anju Gupta — all residents of Bagh Nauhria Mal Jain, Bharat Nagar.
The FIR has been registered on the basis of the probe carried out by senior police officials following the complaint submitted by Arun Kumar, chairman of Garg Fasteners of Shaheed Bhagat Singh Colony in November 2021.
The complainant said that he had cordial relations with the accused for the past 22 years.
He added that in March 2019, the accused had approached him and sought a loan for their business, assuring that they will return the loan amount within a year.
Arun agreed to lend a personal loan to the accused and transferred the amount from different accounts of his family members in April and May 2019.
He said that between 2018 and 2020, his family helped the accused by transferring a total of ₹4.33 crore through different modes. His claims were corroborated in the probe conducted by the police.
The investigation also revealed that Arun had approached the accused several times asking them to return the money, but failed to get it back.
ASI Sahib Kumar, who is investigating the case, said that an FIR under sections 406, 420, and 120-B of the IPC has been registered against the accused at the Moti Nagar police station.
