Fake bank surety: Chandigarh parking firm director sent to judicial custody

The accused parking firm director was arrested by the economic offences wing (EOW) of the Chandigarh Police on March 7 and had been in police remand ever since

Sanjay Sharma, the director of former parking contractor, Paschatya Entertainment Private Limited, who has been arrested for providing forged bank guarantees to the municipal corporation (MC) during allotment of parking lots in 2020, was sent to judicial custody on Monday.

A Chandigarh parking firm director sent to judicial custody in relation to a fake bank surety case. (HT File)

Sharma was arrested by the economic offences wing (EOW) of the Chandigarh Police on March 7 and had been in police remand ever since.

Police are also working to arrest the firm’s contractor, Anil Kumar Sharma of New Delhi, said to be the main accused in the fraud.

While working on recovering ₹6.5 crore unpaid licence fee from the Zone 2 contractor, whose contract had ended in January, MC officials had approached the bank concerned in New Delhi to recover the money through bank guarantees submitted by the contractor.

However, the bank informed MC that the guarantees for ₹1.5 crore were forged. On MC’s complaint, police had registered a case under Section 420 (cheating) of the Indian Penal Code at the Sector-17 police station. This case was later transferred to the EOW and Section 120-B (criminal conspiracy) of the IPC was added.

The firm also has other tenders, including some in New Delhi. Police are investigating whether the guarantees given there are also forged.