Gurugram, March 28 Directors of a company are alleged to have defrauded another company from which they had taken loans worth crores of rupees. Gurugram Police have arrested one of the directors from Coimbatore, Tamil Nadu, officials said on Saturday.
The arrest came following a complaint filed by a company at the Sector 18 police station in Gurugram, stating that the directors showed purchase orders and obtained loans, the complainant company said in July last year. This was part of a 2022 supply deal between the two companies, it said.
However, after receiving the money, there was allegedly no purchase and they did not repay the loan. Police suspected the possibility of fake vendor firms.
Police took the accused into two-day police custody after producing him before a city court today, they said.
The investigation was conducted by a police team from the Economic Offences Wing-2, which arrested one of the directors from Coimbatore on Thursday. He was identified as Prashant (45), a resident of Janakpuri, West Delhi.
During interrogation, it was found that he was the director of City Mega Mart, approximately a 20 per cent shareholder.
He and his associates obtained a loan from the complainant company and promised to repay the loan with interest within 90 days.
"The accused revealed that the firms through which he had issued purchase orders and transferred funds belonged to him and his associates. Only invoices were issued, but no goods were supplied or purchased," a police spokesperson said.
"The accused transferred the funds received from the complainant company to their own company and divided it among themselves."
The director's share of the fraud money was approximately Rs 70 lakh, a police spokesperson said, adding that questioning was still going on.
