MUMBAI: This one has some similarities to the Nirav Modi case. A senior employee of a diamond buying and selling firm who aided his employer in fabricating belongings documents to safe an overdraft facility of Rs one crore and duped Punjab National Bank has been arrested by Mumbai police.
The banking unit of the Economic Offences Wing(EOW) on Wednesday arrested Yogesh Pujwani (59), a diamond assorter chargeable for comparing the quality of valuable stones; they are now in search of his employer Amit Bipin Shah.
The complainant in the case is Divakar Prasad, a senior legit from the asset restoration department of the financial institution at Dalamal House at Nariman point. Prasad in his complaint has alleged that ASR Diamonds' proprietor Shah had in 2008 applied for an overdraft facility by way of a loan with PNB's Opera House department.
Shah had submitted documents to an upmarket flat at Geeta Smruti housing society at Gamdevi. "Shah submitted the share certificate, registration agreement, and NOC from the soceity. The bank sent those documents for legal scrutiny and it gave a clearance," said an officer.
Shah availed of the overdraft facility until 2009 when he started to default on his repayments. Shah's mortgage grew to become a non performing asset for the financial institution. In 2010 the financial institution wrote to Shah and when he failed to respond, it issued a realize caution it might attach his flat.
However, when PNB officials visited the flat, they discovered a circle of relatives were living there for twenty years they usually had by no means bought their flat to Amit Shah. The flat owner informed the PNB legit that Shah had in a similar fashion duped ICICI Bank, Bajaj Finance and Citi Finance using the similar documents; officials from these banks too had grew to become up to take the possession of the flat. PNB officials then lodged a complaint with the DB Marg police. The case was transferred to EOW.
The banking unit of the Economic Offences Wing(EOW) on Wednesday arrested Yogesh Pujwani (59), a diamond assorter chargeable for comparing the quality of valuable stones; they are now in search of his employer Amit Bipin Shah.
The complainant in the case is Divakar Prasad, a senior legit from the asset restoration department of the financial institution at Dalamal House at Nariman point. Prasad in his complaint has alleged that ASR Diamonds' proprietor Shah had in 2008 applied for an overdraft facility by way of a loan with PNB's Opera House department.
Shah had submitted documents to an upmarket flat at Geeta Smruti housing society at Gamdevi. "Shah submitted the share certificate, registration agreement, and NOC from the soceity. The bank sent those documents for legal scrutiny and it gave a clearance," said an officer.
Shah availed of the overdraft facility until 2009 when he started to default on his repayments. Shah's mortgage grew to become a non performing asset for the financial institution. In 2010 the financial institution wrote to Shah and when he failed to respond, it issued a realize caution it might attach his flat.
However, when PNB officials visited the flat, they discovered a circle of relatives were living there for twenty years they usually had by no means bought their flat to Amit Shah. The flat owner informed the PNB legit that Shah had in a similar fashion duped ICICI Bank, Bajaj Finance and Citi Finance using the similar documents; officials from these banks too had grew to become up to take the possession of the flat. PNB officials then lodged a complaint with the DB Marg police. The case was transferred to EOW.
Mumbai: Another diamond trader cons PNB
![Mumbai: Another diamond trader cons PNB]()
Reviewed by Kailash
on
May 31, 2018
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