E-Paper
EOW arrests Delhi-based CA in cheating case
EOW of the Mumbai police arrested a 38-year-old chartered accountant (CA) from Delhi in a cheating case registered in Mumbai against the director of a Powai-based company
Mumbai The Economic Offences Wing (EOW) of the Mumbai police arrested a 38-year-old chartered accountant (CA) from Delhi in a cheating case registered in Mumbai against the director of a Powai-based company that fraudulently availed business loan from ICICI Bank using forged documents.
The arrested CA, identified as Kapil Mittal, is a resident of Delhi and is accused of helping the prime accused Sanjay Sinha in the alleged fraud. Sinha, a director of Leeve Logistics Ltd., was arrested by the EOW in August 2019.
Investigations by EOW banking unit 1 official revealed that Sinha, in 2013-14, under the pretext of buying a forklift from Kamal Sales Corporation, availed a loan of ₹4.41 crore from ICICI Bank.
The accused allegedly submitted bogus and forged invoices and other documents of Kamal Sales Corporation to the bank to avail the loan and later used the loan money for self-gain, said an EOW officer.
After Sinha’s company defaulted in loan repayment, Ashok Upadhyay, chief regional officer (sales) of the bank in 2017 lodged FIR against Sinha, his accountant Shrikant Naik and others at Malad police station. The case was later transferred to the EOW.
During EOW’s investigation, the police found that Sinha diverted funds into his account and later to other accounts to withdraw cash, said an EOW officer.
EOW officers suspect that Mittal was aware of the unlawful acts and was also instrumental in the subsequent cash transactions. They alleged that he was part of the criminal conspiracy and helped the main accused in the case.
“Once his role was ascertained, he was arrested in the case recently. He was produced in the court on Friday and was remanded to judicial custody,” said Datta Pable, senior inspector of EOW Banking unit-1.
Sinha, Mittal and other accused have been booked under sections 420 (Cheating), 466 (forgery of record of Court or of public register, etc.), 467 (forgery of valuable security, will, etc.), 468 (forgery for purpose of cheating), 471 (Using as genuine a forged document or electronic record) and 120B (criminal conspiracy) of the Indian Penal Code.
