Delhi Shocker: Woman Held for Cheating Private Bank of Over Rs 3 Crore, Say Police

New Delhi, July 16: The Economic Offences Wing (EOW) of the Delhi Police has arrested a woman for allegedly cheating a private bank of over Rs 3 crore, officials said on Saturday.

Police received a complaint from the bank on January 4, 2019, alleging that Jiya Agro Private Limited, through its directors Jyoti and Harbind Singh, had availed a cash credit facility to the tune of Rs 2.5 crore on September 22, 2015. Maharashtra Shocker: 53-Year-Old Woman Held for Cheating Investors of Over Rs 1 Crore in Pune.

Neeta Rani Gupta, who was shown as the guarantor against the cash credit facility, mortgaged her property to the bank. On the request of the accused, the credit facility was enhanced to Rs 3.25 crore on August 19, 2016.

Subsequently, the company defaulted on its payments to the bank, a senior police officer said. During a legal audit in 2018, it was discovered that the sale deed in the bank's possession was forged, police said.

The accused directors -- Jyoti and Harbind Singh -- did not join the investigation. According to the bank and others, Rakesh Singh and Jyoti were handling the affairs of Jiya Agro Private Limited, police said.

The statements of accounts of the company were audited and it was reported that the property documents submitted by accused Jyoti as collateral security were forged, Joint Commissioner of Police (EOW) Chhaya Sharma said.

It was also revealed that the masterminds of the syndicate were Jyoti and Rakesh Singh. Seven cases were registered in different states against the company, police said.

Rakesh Singh was arrested in 2020. However, the co-accused -- Jyoti and her brother Harbind -- were absconding. The duo, along with Rakesh, had cheated a number of people and FIRs were lodged against them in Punjab and Haryana, police said. The accused started the company with the intention to dupe suppliers and banks., they added.

The accused used to induce suppliers to supply goods and after gaining their trust, flee without paying the dues. They also duped the complainant bank by obtaining the credit facility on the basis of forged collateral property papers, the police said. During investigation, the accused woman was arrested, police said, adding that she did her MBA from Chennai.

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