Saturday, February 21, 2015

5 arrested for cheating liquidator of Rs 3.6 crore


  Mateen Hafeez I TNN




Mumbai: The economic offences wing (EOW) busted a racket that cheated the official liquidator, ministry of corporate affairs, by stealing its cheques and encashing them in separate bank accounts.The accused had taken different cheques of the official liquidator amounting to Rs 25 crore and managed to encash Rs 3.60 crore.
Five people were arrested including a bank clerk, Narendra Kumbhare, his associates Suraj Thakur and Indrasingh Barot, both cheque discounters, Prabhakar Musalge, a travel agent and Geetabhau Panmand, a driver.

Police said S Ramakant, official liquidator, lodged the complaint and stated that they have an account in Punjab Na tional Bank while their office is located in the Bank of India (BOI) building at Fort. The liquidator has accounts in various banks and liquidates properties on the high court's order.Most of the money is kept in banks as fixed deposits to get good interest.

The accused had opened an account in the name of `Official Liquidator Company' at BOI's Santa Cruz branch, whereas the complainant's account was in the name of `Official Liquidator'.“Kumbhare was going to deposit a cheque in his office building's BOI branch when he met one of the accused.

The accused took the cheque from Kumbhare, saying he will deposit it in the Santa Cruz branch,“ said a police officer.Kumbhare was given Rs 2.20 lakh as commission which the police recovered from his house in Dombivli. The accused deposited the cheque in their own account, whose name was similar to that of the liquidator, and made a 15-day fixed deposit, while it should have been for a year. After its maturity the money was transferred to their account. Meanwhile, the accused furnished a duplicate receipt to Kumbhare who submitted it to his office.The accused deposited two other cheques amounting to Rs 10 crore each in the Santa Cruz branch. One day , when Kumbhare called up the bank to inquire about something, the bank manager became suspicious about the FD. He began an internal inquiry and found several irregularities. Later, he informed the office of the official liquidator. Police said Panmand used his Rs 60 lakh commission to buy some properties for his brother in his hometown, Ahmednagar.

The Times of India, March 21, 2015

Thursday, February 19, 2015

Mateen Hafeez, C Unnikrishnan and Rajesh Menon




TOI Journalists Mateen Hafeez, C Unnikrishnan and Rajesh Menon outside the TOI Mumbai office on February 19, 2015.