Mumbai: Lodge company FIR suggests non-public bank officials tweaked bank loan phrases, cheated Rs 120 crore | Mumbai Information
MUMBAI: The director of a hotel group has lodged an FIR versus some ICICI Lender officials and an asset reconstruction business (ARC), accusing them of dishonest him of Rs 120 crore.
The complainant instructed the police that the bank had sanctioned his bank loan application for Rs 351 crore. It then sanctioned Rs 25 crore as the initially disbursement and took Rs 15.5 crore as processing fee and support tax. He bought Rs 9.5 crore. Later on disbursements stopped, but the lender continued charging desire.
Vishal Sharma, 48, director of Lodge Horizon Pvt Ltd, has named quite a few officials of the bank, the ARC firm and others. The FIR, submitted at the BKC law enforcement station, has been transferred to the financial offences wing. Niket Kaushik, EOW chief, said: “Facts are staying disputed by the two events. Our probe is on.”
In 2011, Sharma sought the Rs 351-crore bank loan to develop a luxury lodge in Juhu. “The complainant reported the lender deducted Rs 15.5 crore from the very first disbursement of Rs 25 crore in the first quarter and the remaining Rs 9.5 crore was deposited in the mortgage account in the second quarter,” explained a police officer. Sharma told the police the lender declared the processing payment as earnings in its audit report.
“The complainant mentioned he needed Rs 65 crore as to start with disbursement. On the other hand, the bank’s administration group gave fake facts that Rs 25 crore was necessary for construction and authorized it,” stated an officer.
Sharma has also alleged that some administration committee members inserted untrue conditions in a revised personal loan settlement and his company’s property truly worth Rs 1,200 crore ended up mortgaged. Sharma compensated interest for a yr and stopped since he did not get the 2nd disbursement in 2013. The bank declared the financial loan an NPA in 2016, mentioned law enforcement.
“The complainant explained to the law enforcement that associates of the management crew submitted a fake proposal to the credit rating committee, saying his company was completely ready to pay out the full outstanding of Rs 47 crore. The financial institution offered the loan to an ARC. The complainant stated a burden of Rs 120 crore (desire) has been positioned on his mortgaged assets really worth Rs 1,200 crore although they obtained only Rs 9.5 crore loan. He further more alleged that the accused conspired to mislead the company by publishing false proposals to the credit score committee with no informing the company. We are probing,” stated an officer.
An ICICI Financial institution spokesperson explained: “The organization is a defaulter. The earlier problems by the enterprise were being rejected not only by the EOW, but also by the banking ombudsman. We will continue to co-operate with the investigating authority.”
The complainant instructed the police that the bank had sanctioned his bank loan application for Rs 351 crore. It then sanctioned Rs 25 crore as the initially disbursement and took Rs 15.5 crore as processing fee and support tax. He bought Rs 9.5 crore. Later on disbursements stopped, but the lender continued charging desire.
Vishal Sharma, 48, director of Lodge Horizon Pvt Ltd, has named quite a few officials of the bank, the ARC firm and others. The FIR, submitted at the BKC law enforcement station, has been transferred to the financial offences wing. Niket Kaushik, EOW chief, said: “Facts are staying disputed by the two events. Our probe is on.”
In 2011, Sharma sought the Rs 351-crore bank loan to develop a luxury lodge in Juhu. “The complainant reported the lender deducted Rs 15.5 crore from the very first disbursement of Rs 25 crore in the first quarter and the remaining Rs 9.5 crore was deposited in the mortgage account in the second quarter,” explained a police officer. Sharma told the police the lender declared the processing payment as earnings in its audit report.
“The complainant mentioned he needed Rs 65 crore as to start with disbursement. On the other hand, the bank’s administration group gave fake facts that Rs 25 crore was necessary for construction and authorized it,” stated an officer.
Sharma has also alleged that some administration committee members inserted untrue conditions in a revised personal loan settlement and his company’s property truly worth Rs 1,200 crore ended up mortgaged. Sharma compensated interest for a yr and stopped since he did not get the 2nd disbursement in 2013. The bank declared the financial loan an NPA in 2016, mentioned law enforcement.
“The complainant explained to the law enforcement that associates of the management crew submitted a fake proposal to the credit rating committee, saying his company was completely ready to pay out the full outstanding of Rs 47 crore. The financial institution offered the loan to an ARC. The complainant stated a burden of Rs 120 crore (desire) has been positioned on his mortgaged assets really worth Rs 1,200 crore although they obtained only Rs 9.5 crore loan. He further more alleged that the accused conspired to mislead the company by publishing false proposals to the credit score committee with no informing the company. We are probing,” stated an officer.
An ICICI Financial institution spokesperson explained: “The organization is a defaulter. The earlier problems by the enterprise were being rejected not only by the EOW, but also by the banking ombudsman. We will continue to co-operate with the investigating authority.”
