Two arrested in Ahmedabad for ‘forging’ trader’s documents, signature to get Rs 64-crore loan

The accused Jay Harshadkumar Chotalia, resident of Thaltej, Ahmedabad, was arrested and detained at 7.15 am on Tuesday and subsequently remanded to police custody. The other accused, Mitesh Kiritkumar Sanghvi, a resident of Jamnagar, was arrested on January 8.

The EOW, in a statement on Wednesday, said that they had received a complaint against the three directors of the company, Chotalia, Sanghvi, and Manish Kumar Dangi.

Complainant Keshubhai Haribhai Bodar, resident of Jasdan, Rajkot, alleged that in 2022-2023, the accused had convinced him into investing in the coal business of their company after assuring him of good returns and profits. Bodar said he had mortgaged his properties to invest in the company.

The accused then obtained the complainant’s IT returns and identity documents while he was investing in the company’s shares. After that, Bodar alleged, Chotalia and Sanghvi forged his signature in the documents of Deed of Guarantee and KYC at the Income Tax branch of Kalupur Commercial Cooperative Bank on March 20, 2024. He further alleged that the two directors, without his knowledge, named him the loan guarantor of Rs 64 crore by using his documents and forging his signature on the Deed of Guarantee.

The accused were booked under various sections of the Indian Penal Code (IPC) at the DCB police station.

The EOW said three separate teams were formed to arrest the accused persons.

The statement further added that during investigation, police found five bottles of liquor at the house of Chotalia following which he was also booked under the Prohibition Act at Bopal police station in Rural Ahmedabad.