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EMBEZZLEMENT OF 2.90 CRORES: COMPANY DIRECTOR ARRESTED

September 29, 2020 10:25 PM

New Delhi (Face2News)

The present case FIR No. 687/15 u/s 406, 420, 120B IPC PS Vikas Puri,Delhi was received on transfer from West District in October, 2018. The Director of the complainant company i.e. M/s Silver Jublilee Tradexim Pvt. Ltd,alleged that Amit Pal joined the company in 2011 and was appointed director and authorized signatory of the company for the bank accounts.

Later on, heresigned from the directorship on 01.04.2015 but continued to work as employeeof the company. It is alleged that on 18.06.2015, Amit Pal fraudulentlytransferred an amount of Rs. 2.9 Crore from the IDBI bank account of thecompany to the bank account of M/s Nirmal Rice Enterprises which is underproprietorship of his brother Neeraj Kumar.

Dr. O.P MISHRA IPS, Joint Commissioner of Police,  Economic Offences Wing, said, Immediately after noticing thetransaction, the complainant company got withheld the transferred amount in thebank account of alleged firm by requesting the bank authorities. The complainantfurther alleged that Amit Pal also took away motorcycle no. 11-SP 7975, PassionPlus of the company and did not return the same. Both the alleged Amit Pal andNeeraj Kumar were not traceable since then. The alleged cheated amount of Rs.2.9 Crore was released to the complainant company on 11.08.2015 by the bank onthe directions of Court. 

The investigation has revealed thataccused Amit Pal, being a director and authorized signatory of the complainantcompany, was well acquainted with the system of the company and as such washaving access to the company accounts. He was removed from the directorship ofthe company but continued as authorized signatory. He grabbed this opportunityto fulfill his evil design in conspiracy with his brother Neeraj Kumar andtransferred an amount of Rs. 2.90 Crore to the account of his brothers’ firm.

Modus Operandi:-Being the director of the complainantcompany, the accused Amit Pal was having entrustment with the accounts andassets of the company. The accused Amit Pal in conspiracy with his brotherNeeraj Kumar betrayed this entrustment and misappropriated the funds and MotorCycle of the company.

Arrest:- Both the accused persons – the realbrothers, fled with the Motorcycle of the Company and went underground. Despitebest efforts, no clue was available with regard to their whereabouts.Information was developed and the sources were deployed. It led us to the presentaddress of both the accused persons at Vikas Puri where accused Neeraj Kumarwas arrested on 18.08.2020 and the company Motorcycle no. 11-SP 7975, Passion Plus was recovered from hispossession.On 25.09.2020, accused Amit Pal was arrested and released on bail as per the direction of Hon’ble court. Further investigation is in progress. 

 
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