Delhi: Woman arrested for using Rs 19 crore credit facility with bank using fake documents

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The Economic Offenses Wing (EOW) of the Delhi Police has arrested a 66-year-old woman for allegedly deceiving a private bank after using credit facilities for Rs 19 crore using false documents.

The accused was identified as Rashmi Seengal, a resident of Gurugram.

The incident came to light after a case was filed based on a complaint filed by HSBC bank. The bank alleged that a company, “Compact Disc India Ltd”, through its directors – Suresh Kumar Seengal and his wife Rashmi Seengal – approached them for a working capital credit facility. .

A credit facility of Rs 19 crore was sanctioned by the bank to the company in August 2008 against the mortgage of the company’s stock, work in progress, finished goods etc. including factory and machines, they added.

The promoters of the alleged company also signed their personal bond and submitted a statement of their financial worth. Further, they submitted the exported BOMs to Interactive Creative Media Ltd, Singapore and ensured repayment of the loan amount within 90 days of receipt of payment from the importer.

When the borrower failed to repay the outstanding amount, he offered to repay it through an equitable mortgage on the assets. Later, when the bank conducted its investigation, it discovered that the money it was disbursing was being diverted to associated companies.

When CA Suresh Kumar Goyal, associated with the accused couple, was questioned, he revealed that his signatures had been forged on the two certificates of financial value dated September 11, 2008.

It was also found that the money disbursed by the bank had been diverted to associated companies by the accused.

The original certificates of financial worth dated 11 September 2008 were obtained from DRT-II, Delhi and the same were deposited at FSL, Rohini with the specimen and admitted signatures of CA Suresh Kumar Goyal for forensic examination.

The accused duo – Suresh Kumar Seengal and his wife Rashmi Seengal – had disappeared and were changing places of detention. Meanwhile, a letter has been sent to the Delhi Immigration Department asking them to issue a Watch Circular (LOC) against the two defendants, the officer said.

“On Monday, we received information from the Immigration Department that Rashmi Seengal was detained at IGI Airport, Delhi. Subsequently, the accused Rashmi was brought before the Duty Magistrate of Patiala Court and after having obtained the required authorization, she was arrested on Tuesday,” said MI Haider, Deputy Commissioner of Police (Economic Crimes Wing).

Further investigations into the case are ongoing.

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