Wednesday, March 25, 2015

Garment dealer held for cheating infrastructure firm of Rs 4 crore



Mateen Hafeez I TNN

Mumbai: The economic offences wing has arrested a garment dealer in a cheating case where cheques of an infrastructure firm were discounted and the money siphoned off.
EOW officials have found that 43 cheques totalling to over Rs 4 crore were discounted illegally .The police are interrogating the accused, Ketan Bhanushali (38), who lives in Ghatkopar.

“Mahavir Road Infrastructure Pvt Ltd had filed a complaint with the Tilak Nagar police and the case was later transferred to the EOW. According to the complaint, the firm was to send some cheques to their clients and others were to be deposited in its account. But during an internal audit, the firm found that cheques were discounted and neither deposited into its account nor given to the clients,“ said a police officer. The prime suspects were the firm's three accountants--Jayesh Bhanushali, Tejash Shah and Manu Baria.

They approached the sessions court seeking anticipatory bail, but their pleas were rejected. Now, they have approached the Bombay high court. During investigations, the police found that cash was withdrawn and deposited in the account of Siddharth Constructions, which is owned by Shah. “We also found that around Rs 76 lakh was transferred from the construction firm's account to Bhanushali's. He is a beneficiary and hence, we arrested him,“ said the officer.

Bhanushali has been remanded in police custody till March 30. “We are scanning all the records and suspect that some more accounts were used in the crime.The cheques were discounted at different places and we may summon the persons concerned for questioning,“ said an officer.

The Times of India, March 25, 2015

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