Delhi police arrest three for siphoning off loan from bank

The Delhi Police’s Economic Crimes wing arrested three people for allegedly siphoning off over 300 crore rupees they borrowed from Yes Bank. The defendants have been identified as Yateesh Wahaal, Satish Narula and Rahul Singh Yadav.

A case was registered after a complainant filed his complaint against Nayati Healthcare and Research NCR Pvt Ltd, of which Yateesh and Satish were the directors. Police said the victim owned 49% of the shares of a company named OSL Healthcare Pvt Ltd and the other two directors named Chandan Mishra and Charchit Mishra held the remaining 51%. OSL Healthcare Pvt Ltd aimed to build and operate a hospital in Gurugram. “The company has signed a memorandum of understanding with the Vidyasagar Institute of Mental Health, Neuroscience and Allied Sciences (VIMHANS) for the operation and management of VIMHANS IPD, OPD, emergency and diagnostic services and VIMHANS providing its super advanced medical specialty psychiatry and related services to OSLHPL, ”Delhi Police said in a statement.

Police said the complainant was also promised Rs 30 lakh per month as professional fees for his services. “But during the completion of the hospital, OSL Healthcare Pvt Ltd started to face financial problems which forced them to sell their 51% shares to Naarayani Investment Pvt Ltd., the holding company of M / s Nayati Healthcare & Research NCR Pvt Ltd at consideration of Rs 99 crores, “the statement read.

The plaintiff alleged that Nayati Healthcare & Research NCR Pvt Ltd took a 312 crore loan from Yes Bank to develop the hospital, but they embezzled the money. He also alleged that they had deceptively reduced his stake from 49 percent to 6.3 percent. “During the investigation, it was found that after receiving a loan, an amount of Rs 208 Crore was transferred to a bank account in the name of Ahluwalia Construction. During the verification of said account, it was found that the said account had been opened by the accused named Rahul Singh Yadav only for the purpose of embezzling / siphoning off the loan amount as it was a fictitious account. Ahluwalia Construction, a renowned builder replied that he had worked at the Gurugram project site and had received only Rs. 10 Crore from the alleged company. The project is still unfinished, ”police said.

“It was also found that the transfer of Rs 208 crore was authorized by Yateesh Wahaal and SK Narula, as the manager / authorized signatory of the alleged company’s loan account,” the statement said. (ANI)

(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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