Directors held for obtaining Rs 17.5 cr loan on forged docs

| | NEW DELHI
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Directors held for obtaining Rs 17.5 cr loan on forged docs

Saturday, 21 November 2020 | Staff Reporter | NEW DELHI

Delhi Police has arrested directors of a company for allegedly obtaining loan of Rs 17.5 crores on forged documents.

The accused have been identified as Waseem Ahmad Khan and Narender Kumar Arora, who were arrested by the Economic Offences Wing (EOW) of Delhi Police.

According to Dr O P Mishra, the Joint Commissioner of Police, EOW, a complaint was received in which the complainant Kamal Arora alleged that the properties of Khoobsurat Resorts Private Limited has been misappropriated by Waseem Ahmed Khan, Director of Multiwal Pulp & Board Mills Pvt. Ltd. and also of Khoobsurat Resorts Pvt. Ltd. in connivance with others.

“She was having 35 per cent shares in Khoobsurat Resorts Ltd. whereas Waseem Ahmed Khan holds 50 per cent shares in the company. Khan availed a loan of Rs 17.5 crores in the name of Multiwal Pulp & Board Mills Pvt. Ltd by pledging the only property land worth Rs. 25 crores of Khoobsurat Resorts. Pvt. Ltd by forging documents,” said the Joint CP.

“A case was registered on direction from the local Court and during investigation it was revealed that Waseem Ahmed Khan in connivance with Narendra Kumar Arora prepared forged Share Pledge Agreement of the company and obtained loan of Rs. 17.5 crores from SREI Infrastructure Finance Ltd,” said the Joint CP.

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