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DELHI POLICE ARRESTED ACCUSED CHEATED TO THE TUNE OF 2 CRORES

February 23, 2021 07:47 PM

New Delhi (Face2News)

Economic Offences Wing of Delhi Police has arrested accused Pawan Kumar Garg R/o B-256 SurajmalVihar Delhi, aged 61 years, Director of M/s CPR Capital Services Ltd., in case FIR No 252/18 dated 5.12.18 U/s-406/420/120B/467/468/471 IPC, PS EOW for duping the complainant to the tune of Rs 2.06 Crores.

Complainant Sh. Ravinder Gupta R/o D-704, Mayurdhwaj Apartment, I.P Extn., Delhi-92 has alleged that in the year 2009-10 he, along-with his other family members, opened his demat and trading accounts with M/s CPR Capital Services Ltd. During the course of trading of shares, accused Pawan Garg has connived with his nephews; also directors in M/s CPR Capital Services Ltd., made several misrepresentations to the complainant, transferred his shares & bonds without his knowledge and later misappropriated the proceeds.

  Dr. O.P. Mishra,IPS, Joint Commissioner of Police, Economic Offences Wing, said, during investigation it has also come to notice that some forged demat slips were also prepared and submitted with the Stock Exchange to carry out the fraudulent transactions. Proceeds of the complainants’ shares and bonds were misappropriated by the alleged, causing him a wrongful loss of to the tune of app. Rs.2.06 Crores.

MODUS OPERANDI : The accused directors of M/s CPR Capital Services Ltd. did not let the complainant know about unauthorized transactions of shares and bonds carried out on the strength of forged demat slips. Some shares and bonds were later pledged by the accused to raise funds which were never transferred into the accounts of its lawful owner i.e the complainant.

 Dr. O.P. Mishra,IPS, Joint Commissioner of Police, Economic Offences Wing, said, during investigation it has also come to notice that some forged demat slips were also prepared and submitted with the Stock Exchange to carry out the fraudulent transactions. Proceeds of the complainants’ shares and bonds were misappropriated by the alleged, causing him a wrongful loss of to the tune of app. Rs.2.06 Crores.

The accused person failed to produce any instrument of accession signed by the complainant giving him the authority to make any such transfer of securities. PawanGarg, in the capacity of the director of M/s CPR Capital Services Ltd., carried out the transactions on its own without obtaining any lawful authority from the owner. Further the proceeds accrued were never shared with the owner of shares/complainant.

ARREST : Pawan Garg S/o Manohar Lal Garg R/o B-256 Surjmal Vihar Delhi has been arrested and released on bail as per the order of the Hon’ble High Court of Delhi after furnishing a personal bond for a sum of Rs. 25,000/-.
TEAM: The supervision of Sh. Mohd. Ali, DCP/EOW & Sh. Virender Singh, ACP/EOW, a team comprising SI Ritesh Raj and Ct AnujKumar was formed which arrested the accused Pawan Garg.

PROFILE OF ACCUSED: Pawan Garg is the main conspirator who remained at the helm of affairs of the company M/s CPR Capital Services Ltd. He has studied chartered accountancy and started this company in the year 1996 wherein he appointed his close family members to run this company. He is also facing another criminal case registered at EOW vide FIR no 205/13, which is being investigated by the Cyber Cell, Dwarka. Further investigation of the case is in progress.

 
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