CHEAT ARRESTED

Economic Offences Wing, Crime Branch has arrested Vinod Kumar Gupta s/o Sh. Indersain Gupta R/o 502, Balaji Tower, Linking Road, Santacruz West, Mumbai age 57 years BA from M.D University, Rohtak   in case FIR No. 90/14 u/s 109/420/120B IPC PS EOW for inducing a company M/s Assotech Ltd on the pretext of providing corporate loan at low rate of interest. He along with other associates cheated many complainants/ victims through their company on the same pretext.

            The complainant M/s Assotech Ltd. has alleged that their company had been induced by the alleged Ms Reniey Joy and  Sh Vinod Kumar Gupta, Director, M/s Link Advance Ltd, having its office at 104 Nilgiri Appts, 9 Barakhamba Road, New Delhi to execute a loan agreement dt 15.12.2011 of Rs 5 crores on the pretext of providing corporate loan at low rate of interest of around Rs. 35 Crores. It has also been alleged that the registered address of the Company at 503, Mangal Murti, Near Arya Samaj, Linking Road, Santacruz (West), Mumbai was not existing at the time of signing loan agreement.  The complainant company was under huge financial burden and immediate money was required for ongoing projects. The complainant believed the version of the accused on the assurance of Ms Rennie Joy, who was known to both parties. It has been alleged that the Vinod Kumar Gupta issued a cheque of Rs 5 crores as assurance that the same would be honoured if the prospective loan amount of Rs. 35 crores does not materialized.  When the complainant company realized that the accused Vinod Kumar Gupta was never in a position to get the corporate loan sanctioned, they presented the cheque Rs. 5 Crore to bank which was subsequently dishonoured due to insufficient fund. Thus neither the loan was provided to the complainant nor Rs. 5 crores was paid back. Further investigation was conducted which revealed that the Rs. 5 Crores has been siphoned off by the accused for personal expenses such as tours and travels, extending unsecured advances to other company/individual, buying expensive cars etc.   Investigation related to the other accused Ms Rennie Joy is still in progress.

            On this complaint a case FIR No. 90/14 u/s 109/420/120B IPC PS EOW was registered. The alleged Vinod Kumar Gupta has cheated other companies having same modus operandi including (1) Genex Industries, Ludhiana Rs. 2 Crores, (2) IVRCL, Hyderabad Rs. 5 Crores (3) Senior Builders Ltd, Delhi Rs. 3 Crores etc on the pretext of arranging immediate finance.

                        A team under the supervision of the undersigned comprising of Inspr. Ravinder Malik, SI Rajneesh Kumar and HC Parvinder Singh was constituted and  raids were conducted in search of accused Vinod Kumar Gupta in Mumbai and Delhi. The LOC of the accused Vinod Kumar Gupta was opened. Accused Vinod Kumar Gupta was intercepted at IGI Airport, New Delhi on 11.03.2015 at 2.25 A.M while he was trying to leave the country.  Sustain interrogation is being made to unearth the whole conspiracy.