A 52-year-old man and his wife were arrested by the economic offences wing (EOW) for allegedly duping a non-banking financial company (NBFC) of ₹20 crore by selling an already mortgaged piece of property to a third party without informing the company, police said on Friday.
A case of cheating, criminal breach of trust, forgery, and criminal conspiracy was registered in connection with the crime in August last year based on the complaint of a representative of the NBFC. The arrested couple was identified as Mandeep Singh and his 47-year-old wife, Tarvinder Kaur Suri, said joint commissioner of police (EOW) Chhaya Sharma.
The complainant alleged that one of the two companies availed five loans totalling ₹20 crore from the NBFC. The company had mortgaged its property, a land measuring 81 kanal located in Rajaswa Gram Taj Nagar in Haryana’s Gurugram district against security. The original documents of the land were also deposited with the NBFC, said the joint CP.
“The alleged company defaulted repayment of loan and the complainant’s company initiated arbitration proceedings for recovery of the same. The arbitrator passed an award in favour of the NBFC. During the arbitration proceedings, it was revealed that the alleged company and its directors had transferred the pledged land in favour of Tarvinder Kaur Suri, wife of Mandeep Singh, who is the director of the alleged company. The deed was executed on behalf of another company owned by them,” said Sharma.
As the allegations were found true, a case was registered and investigation was carried out. During the probe, the police found that both the alleged companies were functional from the same address in Delhi’s Lajpat Nagar and their founders as well as the directors were identical. The alleged company through its directors transferred the mortgaged property in the name of Tarvinder Kaur Suri without receiving even a single penny and without the knowledge of the complainant company. Thereafter, Suri further transferred the said property in favour of someone who is yet to be identified, said the joint CP.
{{/usCountry}}As the allegations were found true, a case was registered and investigation was carried out. During the probe, the police found that both the alleged companies were functional from the same address in Delhi’s Lajpat Nagar and their founders as well as the directors were identical. The alleged company through its directors transferred the mortgaged property in the name of Tarvinder Kaur Suri without receiving even a single penny and without the knowledge of the complainant company. Thereafter, Suri further transferred the said property in favour of someone who is yet to be identified, said the joint CP.
{{/usCountry}}“Thus they created third party interest by creating another chain of original documents in order to get advantage in the arbitration proceedings. We finally arrested the couple,” she added.
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