NEW DELHI: Economic Offences Wing (EOW) has arrested the director of a private company from Himachal Pradesh in a multi-crore bank fraud case.
The accused has been identified as Vinay Sharma.
According to additional commissioner (EOW) R K Singh, the company is also being investigated by the CBI in a Rs 1,528-crore fraud with a consortium of banks.
“Another case of fraud worth Rs 555 crore with nine banks is also lodged with CBI with regards to another company where the accused is a director,” he said.
The CID Himachal Pradesh has also registered two cases of excise duties worth around Rs 2,000 crore.
Sharma was arrested after police received a complaint from Standard Chartered Bank alleging that Vinay Sharma and R K Sharma, both directors of Indian Technomac Ltd, had obtained credit facilities to the tune of Rs 30 crore, including letters of credit (LC) worth Rs 20 crore.
Later on, they were invoked by the shell firms associated with the alleged company, the dues were not paid and the directors absconded after closing the business, the additional CP said.
The investigation revealed that the LCs didn’t exist in the records of the registrar of companies and the vehicles shown used by these companies to transport material from Delhi to Ponta Sahib in HP were fake and either scooters, motorcycle or moped.
RTO records show these vehicles were not registered with the authorities concerned.
In another case, EOW has arrested two appraisers of a bank for allegedly certifying fake gold in connivance with loan seekers for hefty commissions.