Former President of Atlas Cycles Ltd; carrying a reward of Rs. 25,000/-, arrested by EOW in 2 cheating cases amounting to the tune of Rs. 9 Crore

With the arrest of one accused been able to Salil Kapoor (Proclaimed Offender), FIR No. 296/14 dated 10.11.14 u/s- 420/406/34 IPC, P.S. Defence Colony and  FIR No. 160/14 dated 19.06.14 u/s- 420/406 IPC also of  PS Defence Colony, the Economic Offences Wing of Delhi Police has been able to solve multi crore cheating case.  

The complainant Sh. Satinder Nath Maira alleged in the complaint that  in February 2012 he had received Rs. 35 Crore from the sale of his property at 115, Sunder Nagar, New Delhi,  out of which Rs. 13 Crores were handed over to Prashant Kapoor who was well known to the family, for further investment of the money.  Prashant Kapoor with connivance of Salil Kapoor and others misappropriated Rs. 13 Crore on the pretext of purchasing Capital Gain Bonds for Rs. 7 Crores and depositing Rs. 6 Crore in Allahabad Bank. In this regard a case vide FIR No. 296/14 dated 10.11.14 u/s- 420/406/34 IPC, P.S. Defence Colony was registered at PS Defence Colony and taken up for investigation.

            Prashant Kapoor who is the accused in the above FIR No. 296/14 P.S. Defence Colony, with intention to shift his responsibility got a separate case registered against accused Salil Kapoor vide FIR No. 160/14 dated 19.06.14 u/s- 420/406 IPC PS Defence Colony. In this case, complainant Prashant Kapoor alleged that on 08.06.12 a loan agreement was entered into between him and Salil Kapoor wherein it was mentioned that Prashant Kapoor has to lend a sum of Rs. 5 Crore to Salil Kapoor, against a property No. D-205, IInd Floor, Defence Colony, New Delhi. On investigation it was reveal that Salil Kapoor had earlier taken a loan from M/s. Money Line on the above mentioned property, amounting to Rs. 2.75 Crore. as per loan agreement dated 08.06.12  Prashant Kapoor paid outstanding amount to M/s. Money Line on behalf of Salil Kapoor and rest of the loan  amount was given to Salil Kapoor who issued 7 post dated cheques of total Rs. 8 Crore. Later on, all the 7 post dated cheques dishonored. During investigation of this case, on 28.11.14 accused Salil Kapoor was declared as Absconder by, M.M., Saket Court, Delhi.

 During further investigation at EOW, it revealed that accused Salil Kapoor had also cheated one lady namely Ms. Sunita Bansal to the tune of Rs. 4 Crore. Accused Salil Kapoor had  sold his same  property  i.e.  D-205, IInd Floor, Defence Colony, New Delhi to Ms. Sunita Bansal vide registered sale deed dated 15.01.14 for Rs. 4 Crore. Accused Salil Kapoor had also taken the said property on lease from Ms. Sunita Bansal in the name of his company M/s. Atlas Laboratories & Pharmaceuticals Ltd. vide registered Lease Deed dated 20.01.14. This lease agreement with Sunita Bansal was made to conceal the fact that the property was not in his possession.   She also came to know that the accused Salil Kapoor had taken a loan of Rs. 5 Crore from Prashant Kapoor by mortgaging the same property. Thus, she was cheated of Rs.4 crore in the complete transaction.

            The modus operandi of the accused was that in a well planned conspiracy between accused Salil Kapoor and Prashant Kapoor to misappropriate the hard earned money of the complainant Satinder Nath Maira, they prepared false documents. Prashant Kapoor get transferred Rs. 7 Crores from the a/c of Satinder Nath Maria to his account. Later on, the said money of complainant Satinder Nath Maira was transferred from the account of Prashant Kapoor to the account of accused Salil Kapoor. Money transactions between accused Prashant Kapoor and Salil Kapoor proves their conspiracy for embezzlement of money of Satinder Nath Maira. Both of them had prepared the false documents like loan agreement, agreement to sell, vacant physical possession letter etc. just to cheat Mr. Satinder Nath Maira because the property no. D-205, IInd Floor, Defence Colony was never in the possession of accused Salil Kapoor since 2006.

During investigation, it revealed that accused Salil Kapoor was the President of Atlas Cycles Ltd. Haryana and at present he is Managing Director of Atlas Laboratories and Pharmaceuticals Ltd.   Sincere efforts were made to trace out the accused Salil Kapoor who was also declared PO by the concerned court.   Hence, a reward of Rs. 25,000/- was declared by Commissioner of Police, Delhi for giving any information/clue about him.

During investigation, IO/SI Shailendra Kumar received a secret information from some reliable source that accused Salil Kapoor is presently residing at Roorki, Near Haridwar, Uttrakhand to conceal himself to evade his arrest. Hence, on 25.05.2015 a team comprising of IO/SI Shailendra Kumar, SI Avdhesh, ASI Harjeet, ASI Bani Singh and  HC Anjiv under the supervision of Sh. M.S. Shekhawat, ACP/EOW conducted raid at Rurki, Near Haridwar, Uttrakhand and arrested the accused Salil Kapoor. Accused Salil Kapoor is being taken in Police Custody remand. Further investigation is in progress.