By Neil Terrance Haslam (@neilhaslam90)
New Delhi: The Economic Offences Wing (EOW) of Delhi Police has arrested three directors of Indirapuram Habitat Centre (IHC) for allegedly misappropriating a financial loan of Rs 10 crores.
The complainant, Moneywise Financial Services Private Limited, had filed an FIR last year alleging that the three directors – Pramod Goel (DIN 3543626 PAN AALPM1005C), Krishan Chand Bansal (DIN 6528630, PAN ADQPB9452L) and Anil Gupta (DIN 2024341, PAN AGXPG5693C) – had taken a term loan of Rs 10,00,00,000 (10 Crore) in 2016 from the complainant company for a period of two- years. That has not been repaid to the complainant.
The said loan was availed of for the completion of one of its project, the IHC at Indirapuram, Ghaziabad, Uttar Pradesh. It has, however, been alleged that the accused company not only failed to repay the loan, but also created a third party interest with an intention to defraud and siphon off the complainant company’s funds.
As per India Legal sources, it is learned that other agencies are also looking into the dubious acts of the Indirapuram Habitat Centre Private Limited (IHC). Delhi Police shocked to know the involvement of high profile people and of retired IAS officers.
The following is the complicated cross-holdings of the three directors in various companies, all allegedly involved in the alleged siphoning off process.
The following is the background of the case.
Indirapuram Habitat Centre Private Limited (IHC) is a private company, incorporated on March 18, 2002 having registered office at 702-704, D-Mall Netaji Subhash Place, Pitampura, New Delhi 110034. It is registered with the Registrar of Companies, Delhi and its PAN is AAGCS4747R. IHC is operating in commercial real estate by the name Indirapuram Habitat Centre in Indirapuram Ghaziabad.
IHC is promoted by Pramod Goel, son of of Naresh Kumar Goel, and has the PAN: AAHPG5708L and resides at BN 33 East, Shalimar Bagh, New Delhi 110088. Mr Goel is also the promoter of a Real Estate developer by the name Victory Group (Victory). That company has developed various projects in Delhi, Noida, Gurgaon and Indirapuram.
IHC was incorporated by the name Showman Clubs and Inn Pvt Ltd with the principal shareholder being Rajesh Gupta (90%) and Vijay Kumar Gupta (10%) on 18 Mar 2002.
IHC was transferred to AEREN Group (AEZ) in the year 2006. Aeren Group is a mammoth real estate player, having interests in various cities such as Delhi & NCR, Jaipur, Amritsar, Ludhiana, Kochi, Bangalore, Madurai, Lucknow, Bhopal, Karnal, Jagadhri etc. Some of the prominent projects executed by the group are Gold Souk in Gurgaon, Wedding Souk, Pitampura Aez Vikaspuri, etc. They have an association with the ABL Group. ABL group is a global real estate giant based out of Chicago.
The following gives a clear picture on the entire process.
1. Victory Group (background discussed above) through following companies infused funds in IHC;
2. Mothers Pride Group (MP) through following companies infused funds in IHC. MP are engaged in educational services:
- 3. It is worthwhile to mention that all the shareholding of AEREN group has been transferred to Dream Procon. The shareholding of Mothers pride group has been transferred to AEREN Group first and then was transferred to Victory Infraprojects Pvt Ltd (Victory Group).
- A Current Position:
- 4. The current directors of the company are as under:
|Pramod Goel||AAHPG5708L||BN 33 EAST SHALIMAR BAGH DELHI 110088 INDIA|
|Krishan Chand Bansal||ADQPB9452L||H.NO.1397, SEC-17 FARIDABAD HARYANA 121002 INDIA|
|Anil Gupta||AGXPG5693C||519, GH-14 PASCHIM VIHAR NEW DELHI 110087 INDIA|
5. The share holding pattern are as under:
|Dream Procon Private Limited||28.34%||Shares purchased from AEZ group|
|Victory Dwellings Private Limited||7.63%||Original Allotment|
|Victory structures private Limited||4.33%||Original Allotment|
|Victory accommodations private Limited||3.59%||Original Allotment|
|Victory apartments private Limited||6.37%||Original Allotment|
|Victory townships private Limited||5.46%|
|Victory portfolio Limited||5.35%|
|Victory Infraprojects private Limited||19.47%||Purchased from MP Group|
|Victory infratech private Limited||19.47%||Purchased from MP Group|
|Victory accommodations private Limited||20.24%||Original allotment|
|Victory Infraprojects private Limited||16.42%||Purchased from AEZ group|
|Dream Procon Private Limited||46.92%||Purchased from MP group and AEZ group|
|Victory Infratech Private Limited||16.42%||Purchased from AEZ Group|
6. The total asset as per balance sheet of 31 Mar 2016 is Rs 870 crores which is funded by equity of Rs 22 cores and reserve of around Rs 79.79 crores, borrowing of Rs 581 crore mainly from group companies’ small portion from bank customer advance of Rs 228 crores (large portion belongs to group companies).
- B Key Findings
- 7. Lapses in the equity has been detailed in History and background clauses including annexures.
- 8. During the course, it has been noticed that bogus share capital has been introduced in the whole IHC Group concerns. The companies which have given accommodation entry are having common directors and addresses. Some of the persons are directors in a large number of companies. Below is the list of directors who are in more than allowed companies as per MCA act.
- 9. Mr Pramod Goel has dealt with Penny Stock “LTCG” in Financial Year 2014-15
- – DHANLEELA INVESTMENTS & TRADING COMPANY LTD Amount 2,17,64,551
- – Effingo Textile & Trading Limited Amount 2,04,18,714 which is Suspended in BSE -Surveillance Measure
Grand Total 4,21,83,265
- 10. High Profile Director appointed only at the time of approval stage, once the objective completed they resigned, a list is tabulated as under:
- A. Mr. Kanwaljit Singh Bains: (15 Mar 2007 to 30 Jan 2009) :Mr. Bains is Retd IAS officer and former VC, DDA, Secy to GOI, associated with the company at the time of the approval stages. Based on his directorship in AEREN Entertainment Zone Private Ltd (company belonging to AEZ Group) it can be clearly understood that he was a representative director for AEZ Group in IHC. He is currently director in Modi Rubber Ltd and Spin Investments Pvt Ltd.
- B. Mr. Pradeep Singh(15 Mar 2007 to 08 Jan 2009) is a retired I. A. S. Officer and has vast experience in the Area of Finance. Presently he is associated with Infrastructure Leasing and Financial Services Ltd (IL&FS) as Chief Executive Officer.
- C. Mr. S. P. Srivastava is a retired Indian Revenue Services Officer (IRS) and former Chief Commissioner – Excise & Custom and Member of Indirect Taxes Commission.
- D. Mr. Y. D. Bankata is retired I. A. S. Officer and is enriched with experience in general administration. Presently he is associated with the AEZ group.
- 11. There has been serious lapses and point of attention in loan as the whole money has routed through loan. Each transaction has been dealt in subsequent paras.
- 12. Material transaction with M/s Nanda Parbat Finlease Limited:
- A. As per the balance sheet of Nanda Parbat for FY 16-17 (Clause 4 of Notes to account), IHC has given a short-term loan of ~Rs 78.70 crores to M/s Nanda Parbat Finlease Limited sharing the common office of IHC which is also promoted by Mr. Pramod Goel (holding almost 100%). The transaction appears to be a round tripping transaction as the funds are given by IHC to Nanda Parbat, who have advanced the same to the shareholders of IHC (Clause 4 of notes to account). While in the ABS of IHC for FY 15- 16, they are showing a sum of 35 crores is payable to Nanda Parbat which is a disconnect.
Following is also relevant to Nanda Parbat
- – No employee managing a fund of ~Rs 450 crores. This appears to be fictitious company which has been incorporated just to route funds. No Employee cost in P&L
- – It is a NBFC and has taken a loan of Rs 218.96 crores (refer ABS 16-17) from various related party and is having an overdraft balance of Rs 18.97 crores with HDFC Bank. The same has been advanced to various parties aggregating to Rs 239.06 crores (Rs 203 crores to related party and Rs 32 crores to others).
- -A non-current investment in the name of Himanshu Goel is appearing the balance sheet aggregating to Rs 1.32 crores which appears to be fictitious.
- -Non-compliance of section 45IA of RBI Act by not maintaining NOF.
- -As per RBI records the address is B 4/281Sector 7 Rohini New Delhi 110085.
- –Round tripping of transactions.
- –Short term loan taken used for long term advancement and no scope for repayment as utilized for long term advances but shown as short-term advances just to hide the disclosure.
- –A total of 400 crores routing has been observed here.
- B. Nanda Parbat has also received a loan of 109.02 crores from Dream Procon Pvt Ltd which is little interesting:
Dream Procon is held by Victory Infratech (99.94%), which is the major shareholder in IHC. Following are note worthy in respect of them:
- It has invested in shops of IHC to a tune of around Rs 5 crore.
- -The balance sheet of dream Procon for FY 16-17 does not mention such loan advancement of Rs 109.02 crores to Nanda parbat specifically.
- -A mining baron of Orissa is having direct interest in Dream Procon to the tune of Rs 50 crores in the form of loan. -The same person is having second charge on the property of Dream Procon located namely Project Victory Ace. On review of the loan documents it appears that the whole document is just an eye wash, just to protect the interest of that person in the property of Dream Procon. There is no reference of loan in balance sheet but the charge on property is subsisting and continuing since 02 May 2015 even though the tenor of loan as mentioned was for 30 months which has since elapsed..
- -The said give suspect to transaction of money laundering as the transaction must have happened in cash. Need to get in detail.
Annexure A: AEZ Group of Companies
90 companies registered to this address: 8-B, Basement Floor, Jangpura, Main Mathura Road New Delhi South Delhi DL 110014 IN
Below 8 companies are dubious. They have all given entries to IHC, many of the companies are leading to other ongoing investigations.
- GLARE PROPERTIES PRIVATE LIMITED Rs 1,89,00,000
- GLARE DEVELOPER PRIVATE LIMITED Rs 1,89,00,000
- STARTREK REALTORS PRIVATE LIMITED Rs 1,89,00,000
- AEZ INFRATECH PRIVATE LIMITED Rs 1,24,99,965
- HILL VIEW REALTORS PRIVATE LIMITED Rs 1,89,00,000
- SEVEN HILLS REALTORS PRIVATE LIMITED Rs 1,89,00,000
- SMART DEVELOPERS PRIVATE LIMITED Rs 1,89,00,000
- SUVIDHA BUILDWELL PRIVATE LIMITED Rs 1,89,00,000
Premium of Rs 35 each Eqty total into INDIRAPURAM HABITAT CENTRE PRIVATE LIMITED is 14,47,99,96/-
Annexure B: Madhuvan Tieup Pvt Ltd
- 1. MADHUVAN TIEUP PVT LTDis a company registered in west Bengal which has its registered office in Calcutta – West Bengal. The registered office was changed from Kolkata to Delhi on 02 Jan 2014. Its balance sheets of 2015-16 mentions that companies (belonging to AEZ Group) were the shareholders in the company as its shareholding were transferred to Mothers Pride Group. All shareholding companies registered at the same address i.e. 8-B, Basement Floor, Jangpura, Main Mathura Road New Delhi South Delhi DL 110014 IN:
- 2. Madhuvan Tieup Pvt Ltd has invested in AEZ Group and IHC
3. Guarantee given in excess of limits (Sec 372A of Companies Act 1956/Sec 186 Companies Act 2013) as per the ABS 10-11
Annexure C: Victory Group
Victory Group 4 companies has received entry from the companies which are mostly dubious. A list of inflow of money in 4 companies are from following companies:
Bhavani Portfolios PRIVATE LIMITED Company Status Strike off. It Gave Entries to Victory group companies. At a Premium of 190.
Bhawani Vanijya PRIVATE LIMITED, Kolkata based entry operated company having address 1, Digamber Jain Temple Road, Kolkata Kolkata WB 700007, more than 100 companies incorporated on this address. It Gave Entries to Victory group companies. At a Premium of 190.
Budhiya Marketing PRIVATE LIMITED, Kolkata based entry operated company having address 16B, SHAKESPEARE SARANI 2ND FLOOR KOLKATA WB 700071 IN is now amalgamated, not existing now.More than 50 companies incorporated on this address. It Gave Entries to Victory group companies. At a Premium of 190.
GANADHIPATI TRADES & CREDITS PVT LTD, Kolkata based entry operated company having address 41/B NARENDRA NAGAR BELGHORIA KOLKATA WB 700056 IN. It Gave Entries to Victory group companies. At a Premium of 190.
PRIYA TISSUE PRIVATE LIMITED Company Status Strike off. It Gave Entries to three of the group companies. At a Premium of 190.
DU Securities Private Limited status: Strike Off
Director Jitender Kumar DIN 01477561 is also director of Priya Tissue Private Limited, as mentioned above and this company is also Strike Off and has given entries to Victory Group
Ganpati VincomPvt Ltd, (name changed to Savi Global Realtor Pvt Ltd) Kolkata based entry operated company having address 207, MAHARISHI DEVENDRA ROAD KOLKATA Kolkata WB 700007. It Gave Entries to Victory group companies. At a Premium of 190.
JAJODIA FINANCE Pvt Ltd, (name changed to JAJODIA FINANCE LTD) Kolkata based entry operated company having address 74, BENTINCK STREET KOLKATA Kolkata WB 700001 IN. It Gave Entries to Victory group companies. At a Premium of 190
Kanha Fats and Oils Pvt Ltd (name changed to Octopus Foods Pvt Ltd) Status Strike off. It Gave Entries to three of the group companies. At a Premium of 190
ShekhawatiVanijya Vikash Pvt Ltd Kolkata based entry operated company having address 16B, SHAKESPEARE SARANI 2ND FLOOR KOLKATA WB 700071 IN is now amalgamated, not existing now. More than 50 companies incorporated on this address. (Same as Budhiya Marketing Pvt Ltd). It Gave Entries to Victory group companies. At a Premium of 190
Sushil Electronics Pvt Ltd (Name changed to KhatuShyam Sales Private Limited) having office at IX/3718, SHOP NO.F-05, GOURI SHANKAR MARKET, DHARAMPURA, GANDHI NAGAR, NEW DELHI East Delhi DL 110031 IN
Major person operating entry appears to be Pradeep Singh (DIN: 01406249) and Rajeev Kumar Sharma (DIN: 01194344)
Strong DevelopersPvt Ltd having address 86, TARUN ENCLAVE PITAMPURA DELHI DL 110034 IN is now amalgamated, not existing now.
All the remaining companies are with similar characteristic, similar e-mail (firstname.lastname@example.org). Most of the company have changed their name without any specific reason, Kolkata, Lakshmi Nagar entry based, having similar address like Sperm Dealcom Pvt Ltd (now Supriya Fincom Private Limited), UDHAV COMMERCIAL PRIVATE LIMITED (now Punita Retail Plaza Private Limited), SUN-GEETA SYNTHETICS PVT LTD (Now Riddhish Agri Products Private Limited), Mysol Engineering Pvt.. Ltd( Kolkata based sharing same address as Savibuil com, same director as riddhishagri), Mukund merchandise Pvt Ltd (now Manasvi Merchandise Private Limited), MSK Vyapar Pvt Ltd (now Sunrays International Private Limited and amalgamated), Feeder Tie Up Pvt Ltd (now : Savi Media World Limited, Kolkata based), BEEFIN COMMODITIES Private Limited (now Majenta Holdings Private Limited, Kolkata based), ASA Solutions Pvt Ltd (Shell company), ANG finvest Pvt Ltd (Pradeep singh and Rajeev Sharma were director), Babu Software Pvt Ltd (Now: Devki Nandan Apparels Private Limited, Pradeep singh and Rajeev Sharma were director), Ganesh Ganga Investment Private Limited (Laxmi Nagar entry operated company), Hamilton Distributors Pvt Ltd (Kolkata based entry based).
Annexure D: A P Impex Pvt Ltd
- A. A P Impex Pvt Ltd is a company incorporated in 02 Apr 1992 having PAN: AADCA1186H and registered office at 638, TOP FLOOR, INDUSTRIAL AREA-B THAPER MARKET LUDHAIANA PB 141003.It is a part of Mothers pride group. The share holding pattern of AP Impex Pvt Ltd is as under:
|Presidium Eduvision Trust|
|Presidium Eduvision Trust|
|Presidium Eduvision Trust|
|Presidium Eduvision Trust|
|Arun Kumar Gupta|
|MOTHERS PRIDE EDUCATION INSTITUTION PRIVATE LIMITED|
|OUR CO. CONSULTING PRIVATE LIMITED|
|P.R.CAREER ENTERPRISES PRIVATE LIMITED|
|SINO CREDITS AND LEASING LIMITED||Belongs to Raj Hans group|
|SKM INDIA PRIVATE LIMITED||Shell||Jai kishan associated with company, refer note below|
|ACUMEN COMPUSOFT PRIVATE LIMITED||Strike off||Jai kishan associated with company, refer note below|
|ALERT TELECOM PRIVATE LIMITED||Strike off|
|APPARELS (INDIA) PRIVATE LIMITED||Strike off||Correct name is LEBARON APPARELS (INDIA) PRIVATE LIMITED|
|EVERGREEN REALCON PRIVATE LIMITED||Shell||Jai kishan associated with company|
|FALCON JERSY PRIVATE LIMITED||Shell||Jai kishan associated with company|
|LEO TELECOME LIMITED||Shell||Refer note below|
|MANBHAVAN INFOTECH PRIVATE LIMITED||Strike off||Refer note below (Hitender Kumar)|
|MAYFAIR INFOSOLUTION PRIVATE LIMITED||Strike off||Refer note below|
|SACHET MEDIA PRIVATE LIMITED||Strike off under process|
|SHRI BHAWANI INDIA PRIVATE LIMITED||Shell company||Name changed to Vigilant Papers Private Limited’s and associated with Jai kishan|
|EXCELLENT COMPUTER SERVICES PRIVATE LIMITED||Strike off|
|HOST MERCANTILES PRIVATE LIMITED|
|KNIT MAC INDIA) LTD||Shell||Hitender Kumar|
|LEO TELECOME LIMITED||Shell||Hitender Kumar|
|SAMPARK IMPEX PRIVATE LIMITED||Strike off|
|SURENDRA MINCHEM PRIVATE LIMITED||Shell||Hitender Kumar|
|BRAHASPATI FINANCERS LIMITED||Shell|
|KARAN EDUCATION PRIVATE LIMITED||Belongs directly to Raj Rani Gupta, promoter of presidium and Mothers’Pride|
|JITENDRA MOHAN SHARMA|
|PINKCITY DUPLEX PRIVATE LIMITED|
|P.R.CAREER ENTERPRISES PRIVATE LIMITED|
|BUSNIESS LINE INDIA PRIVATE LIMITED|
|LIFELINE HOUSEING DEVELOPMENT FINANCE CO.LTD||Shell|
|STANDARD AIR SERVICES PRIVATE LIMITED||Shell|
- B. ACUMEN COMPUSOFT PRIVATE LIMITED Company Status Strike Off has given entry to A P ImpexPvt Ltd
Director of Acumen is Vinay Kumar who is also director of MAYFAIR INFOSOLUTION PRIVATE LIMITED
MAYFAIR INFOSOLUTION PRIVATE LIMITED Status is also Strike off and has also provided an Entry to AP ImpexPrivate Limited at a Premium of 90. Total AmountRs 10,00,000, This is mentioned below:
Infamous Entry operator SHANKER GUPTA LAL DIN 00524924 has been a-part of the company from 25 September 2007 to 15 March 2012,this is also noted in SEBI Report
Address: 106 DUA BUSINESS CENTRE MAIN VIKASH MARG SHAKARPUR East Delhi DL 110092 IN
ANKAY ASSOCIATES PRIVATE LTD
ZOOM MARCO POLO HOTEL MANAGEMENT SERVICES (INDIA) PRIVATE LIMITED
ANKUSH AGRICULTURE PRIVATE LIMITED
YASH AGR0 PRODUCTS PRIVATE LIMITED
PRUDENT MARKETING AND PROMOTING PRIVATE LIMITED
TEE PEE SECURITIES PRIVATE LIMITED
ZARF TRADING AND MARKETING PRIVATE LIMITED
ACUMEN COMPUSOFT PRIVATE LIMITED
MAYFAIR INFOSOLUTION PRIVATE LIMITED
ANUBHAV BUILDMART PRIVATE LIMITED
SEVEN HEAVEN INFRABUILD PRIVATE LIMITED
STROP CREATION PRIVATE LIMITED
|A P IMPEX PRIVATE LIMITED||34,000||₹ 10||₹ 90||34,00,000||21 Mar 2011|
- C. ALERT TELECOM PRIVATE LIMITEDhas given entry to AP IMPEX Private Limited at a Premium 90, total amount ₹ 20,00,000 in 21-03-2011. The Company Status of company is Strike Off
|A P IMPEX PRIVATE LIMITED||20,000||₹ 10||₹ 90||20,00,000||21-03-2011|
- D. It’s for Leo Telecome Limited and under it is only part of AP Impex Private Limited’s Entries.
Below list of companies have given entries to AP IMPEX PRIVATE LIMITED
- – SKM INDIA PRIVATE LIMITED at a Premium of ₹ 100, Normal Value ₹ 100
- – EVERGREEN REALCON PRIVATE LIMITED at a Premium of ₹ 90
- – LEO TELECOME LIMITED at a Premium of ₹ 90
- – MANBHAVAN INFOTECH PRIVATE LIMITED at a Premium of ₹ 90 – Status – Strike Off
- – MAYFAIR INFOSOLUTION PRIVATE LIMITED at a Premium of ₹ 90 – Status – Strike Off
- – SACHET MEDIA PRIVATE LIMITED at a Premium of ₹ 90 – Status – Under Process of Striking Off.
- – SHRI BHAWANI INDIA PRIVATE LIMITED at a Premium of ₹ 90
Most companies are struck off or run by email@example.com, which is the same E-mail ID used by infamous entry operator and this e mail was used by 3 of the four companies which has given 2 Crore black money under pretext of donation to a political party.
Common Director in Companies:
- 1. Director JAI KISHAN DIN 1943566
SKM INDIA PRIVATE LIMITED
EVERGREEN REALCON PRIVATE LIMITED
SACHET MEDIA PRIVATE LIMITED
- 2. Director KAMAL JEET SINGH DIN 1325328
LEO TELECOME LIMITED
EXCELLENT COMPUTER SERVICES PRIVATE LIMITED
SAMPARK IMPEX PRIVATE LIMITED – Status – Strike Off
SKM INDIA PRIVATE LIMITED
Address is C-17, GROUND FLOOR, GURU NANAK PURA, LAXMI NAGAR DELHI East Delhi DL 110092 IN
This address is hosting many companies.
Company has Director Jai Kishan DIN 01943566 who was also director of a known Entry operator AXIS REALCON PRIVATE LIMITED – firstname.lastname@example.org and ARROW MANPOWER SERVICES PRIVATE LIMITEDBoth above companies are entry operated. Both companies have ENTRY OPERATORSDirector MUNSHI LAL DIN 01282261 and Director HEMANT KUMAR DIN 01282299 He is one of the Directors of the 4 companies that gave 2 Crore donations to an infamous political party.
Jai Kishan DIN 01943566 is also director of below companies. Most stand at STRIKE OFF. All companies below have same e-mail ID email@example.com, E Mail ID used is the same E-mail used in 3 of the 4 companies that gave 2 Crore Donations to an infamous political party.
RECKON POWER INDUSTRIES LIMITED Status is Strike Off.
SILVER REALTECH PRIVATE LIMITED Status is Strike Off.
SIDDH DATA BUILDERS PRIVATE LIMITED Status is Strike Off.
DEEPANJALI BUILDWELL PRIVATE LIMITED Status is Active
Other companies that director Jai Kishan DIN 01943566 is part of is as below
MUSKAN BUILDTECH PRIVATE LIMITED Status is Strike Off.
UNITE BUILDCREATE PRIVATE LIMITED Status is Strike Off.
NICON FERTILIZER AND CHEMICALS PRIVATE LIMITED Status is Strike Off.
TEE PEE SECURITIES PRIVATE LIMITED Status is Strike Off. Known Entry Operator Director Shyam Lal DIN 01943566
SACHET MEDIA PRIVATE LIMITED Status Under Process of Striking Off. Known Entry Operator Director SHANKER GUPTA LAL DIN 00524924
Director CHANDAN KUMAR BANSRAJ GAUTAM DIN 06872214, Director USAMI DEVI DIN 07773336, Director DAYA KISHAN DIN 06798845are also directors of NINJA HEALTHCARE LIMITED A KNOWN ENTRY OPERATOR DEEPAK AGRAWAL is part of these companies.
RIYA FINANCE & INVESTMENT LIMITED Status is Strike Off. Interesting NOTE this company via Director PAWAN KUMAR DIN 02651924 is also director of LAMANE INFRASTRUCTURE PRIVATE LIMITED& NAINITAL TECHNOBUILD PRIVATE LIMITED
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- It is worthwhile to note that AP Impex Pvt Ltd has given Corporate Guarantee of Rs 35 crores in favor of the lenders (Bank of India) of Our Co Infrastructure Developers Pvt Ltd (company belonging to Marvel/Presidium/Mothers pride group) on 28 Aug 2013 just to secure interest of money deployed via entry route. No other nexus can be established.
Delhi Police EOW arrests 3 for Rs 10 crore scam,
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