The Economic Offences Wing (EOW) of Delhi Police has arrested a 46-year-old man for allegedly cheating Punjab National Bank to the tune if `24.13 crores.
The accused has been identified as Pradeep Kumar Mittal, a resident of Harsh Vihar in Delhi’s Pitampura area.
According to Dr OP Mishra, the Joint Commissioner of Police, EOW, the complainant Punjab National Bank (PNB) has alleged that in 2013 Bhumika Inspat Udyog Private Limited had availed various loans amounting to Rs 24.13 crores through its directors by hypothecating stock of raw material, semi furnished and unfinished goods, goods in transit, goods lying in the company’s godown and factory.
“The accused agreed to submit the statement of stocks and book debts regularly to the bank. In the year 2014 when the alleged company failed to submit the statement of stock and book debit to the complainant bank, the bank visited the factory premises/ godown and found very negligible stock lying there and the unit was found non-functional and closed,” said the Joint CP.
“Thus directors of the alleged company have sold out the hypothecated stock and siphoned off the amount without the knowledge of the complainant Bank. The amount involved in the present case is Rs 24.13 Crore,” said the Joint CP.
“The accused, Mittal, who is also the director of the alleged company was also arrested and he was released on bail by the local Court,” said the Joint CP.
