Fraud with investors: court notice to banker of accused MD
A court issued a notice to the manager of a private bank and sought details of the accounts held by a Delhi-based private finance company.
New Delhi: A court here on Monday issued a notice to the manager of a private bank and sought details of the accounts held by a Delhi-based private finance company whose Managing Director is in jail for allegedly duping investors of around Rs 2,000 crore.
"Let notice be issued to the manager of Axix Bank, Lajpat Nagar branch, either to appear in person or send some competent officer with account details of M/s Shri Om Sai Nath Car On Rent Ltd and its sisters concern on September 15," Additional Chief Metropolitan Magistrate Ajay Pandey said.
The notice to the manager was issued after the brief hearing on the bail plea of Rupesh Verma, Managing Director of the firm who is in jail since his arrest on December 19 last
The ACMM was recently asked by District and Sessions Judge S P Garg to hear Verma`s bail plea afresh considering his submissions that he was willing to pay the dues to investors.
The District Judge, who was to decide the bail plea, had said "it would be proper if the court of ACMM, which is conducting the trial, decides afresh the application and the
grievances of the investors."
Senior advocate Ramesh Gupta and Aman Sareen, counsel for Verma, had said that Rs 14.11 crore, recovered during the probe, is already with the police.
"The accused has no objection whatsoever, if the same amount (Rs 14.11 crore) is disbursed to aggrieved investors under the supervision of a court commissioner," they said.
Moreover, Verma also owns two hotels, worth over Rs 20 crores, in Gurgaon here, which could also be disposed off if the investors` claim remain unsettled, they submitted.
Verma, Managing Director of the firm, is facing similar cases in Mumbai and Jaipur. The company allegedly used to lure hundreds of investors to invest in its car rental scheme and had promised that investors would get almost three times of the invested
money in installments for 60 months, the FIRs said.
The investors panicked when the cheques issued by the company bounced, after which two of them lodged a police complaint against Verma and the firm.