Cops book finance company for ‘cheating’

“The company offered to provide a loan of Rs 2,700 crore to the Gundecha Group of Companies based in Goregaon for a period of 240 months and further told them that if they pay the amount necessary for processing of the loan directly into their account, they would get the loan at a reduced rate of interest,” said an officer with the Goregaon police.

The officer added that between April and September this year, officials of the Gundecha Group paid a total of Rs 5,88,98,933 to the accused.

The accused, in return, gave cheques for the same amount to the Gundecha Group, saying that if the loan was not processed, they could deposit those cheques and reclaim the money that they had paid.

By the end of October, the loan had still not been processed, and the complainant company deposited the cheques in the bank.

However, the cheques bounced and the complainants then approached the Goregaon police.

“We have registered a case of cheating against the Aditya India Finance Services Ltd and are making further inquiries in the case. No arrests have been made as yet,” the officer added.

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