Kutch bizman held for causing ₹149.89-cr loss to UBI
1 year, 5 months ago

Kutch bizman held for causing ₹149.89-cr loss to UBI

Hindustan Times  

MUMBAI: The Enforcement Directorate on Tuesday arrested Ramchand Issrani, a 64-year-old businessman from Kutch, Gujarat, for laundering money he allegedly obtained cheating Union Bank of India, Byculla Branch of ₹149.89 crore. The ED claimed that AHPTPL has failed to make any efforts to realise the export outstanding of M/s AHPTPL to the tune of US$653,341 due from firms namely M/s Zam Zam Gas, M/s Seven Star, M/s Gas Inn CNG Station and M/s Crest Resources. “AHPTPL has diverted bank funds to M/s Farouk Saudagar Darvesh and Co. Pvt. Ltd, for import of raw material for the manufacture of High Pressure CNG cylinders, without any official agreement between M/s Farouk Saudagar Darvesh and Co. Pvt. Ltd and M/s AHPTPL and the invoice value raised by M/s Farouk Saudagar Darvesh and Co. Pvt.

Pvt Ahptpl Farouk Saudagar Darvesh Issrani  firm  bizman  issrani  causing  14989cr  held  bank  pvt  kutch  ms  ahptpl  ed  ubi  farouk  darvesh  loss  saudagar

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