Celebrity car designer and founder of ‘DC’ design, Dilip Chhabria (68), who was arrested on Monday, had allegedly obtained multiple loans from non-banking financial companies (NBFC) to purchase ‘DC Avanti’ cars manufactured by his own brand before selling them to customers.
Further, the police said that Chabbria had registered same vehicles twice, at times thrice, with regional transport offices (RTOs) of various states. He then used the registration numbers to obtain more loans, the police added, while claiming that the scam runs into over Rs 30 crore.
Joint Commissioner of Police (Crime) Milind Bharambe said, “Nearly 90 DC Avanti vehicles manufactured by Dilip Chhabria Designs Private Limited were used for fraudulent financing. Multiple loans averaging Rs 42 lakh each were availed on these cars. The company would pose as customer for its own manufactured cars, which were later sold to other customers…”
He added that the incident came to light after the police received a tip-off that a DC Avanti with a fake registration number had been seen outside the Taj Mahal hotel in Mumbai. The police laid a trap and found the vehicle outside the hotel on the night of December 18. While the vehicle was registered in Tamil Nadu, its chassis and machine numbers were also found to be registered with the Haryana RTO under a separate number. “The car owner, who hails from Tamil Nadu, had come to know about this… Curiously, the registration address was of the Haryana branch of Chhabria’s company,” said Assistant Inspector Sachin Vaze.
The police have seized the vehicle and the Tamil Nadu resident has been made a complainant in the case. Vaze said they also found that Chhabria had registered several cars in multiple places and availed loans from NBFCs like BMW Financial Services.
He added: “In some cases, the NBFC had authorised the loan even before a vehicle was registered…” An email sent to BMW financial services did not yield a response.
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