Ex-director of firm under liquidation arrested in cheating case
The police identified the accused as Moshin Mohammad, the former director of MK Overseas Private Limited.
2 min read
The police said they arrested the accused, Sumit Singh, 28, on March 30.A former director of a once prominent meat exporting firm, currently under liquidation, was arrested last month for allegedly swindling money taken as loan in the name of the company and selling homes on mortgaged land, the Delhi Police said on Wednesday.
The police identified the accused as Moshin Mohammad, the former director of MK Overseas Private Limited.
In 2021, Yes Bank had filed a police complaint against MK Overseas, accusing it of taking loans worth Rs 95 crore in 2016. Using the money, Moshin allegedly constructed flats on company-owned land that he had mortgaged to Yes Bank while taking the loan.
“The company mortgaged one of its properties located on 19C, Ansari Road, Daryaganj in Delhi. Between March 2018 and May 2019, at the behest of the accused, flats were constructed on this land and sold to innocent homebuyers without disclosing that the same was not free from encumbrances. A sum of Rs 13 crore was collected through such fraudulent sales,” said Additional CP (EOW) Amrutha Gugloth.
Mohsin then allegedly opened an account in a cooperative bank, where he transferred the money and subsequently withdrew Rs 3.33 crore.
Since 2021, he has been evading the police by changing SIM cards and cellphones, the police said. “Based on technical surveillance, a raid was conducted on March 26 at a hotel in Nizamuddin (West) and the accused was arrested,” said Guguloth. The police said four cases are registered against Mohsin, two of which are with EOW.
The company Mohsin was working for, the police said, had taken loans worth Rs 300 crore in all. “They took loans by mortgaging various properties. When the business suffered, they used the liquidity of the company to defraud banks,” Gugloth added.
You May Like
Photos
