Online edition of India's National Newspaper
Sunday, Nov 12, 2006
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Online edition of India's National Newspaper Sunday, Nov 12, 2006 ePaper |
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New Delhi
Staff Reporter
NEW DELHI: An engineering graduate who along with his parents allegedly cheated a Delhi-based jeweller of more than Rs.2 crores by offering a bogus rice export deal has been arrested by the Economic Offences Wing of the Delhi police. While his father was arrested in the same case in 2000, his mother is still absconding. The accused, P. Uday Kumar, was arrested when he was about to board an international flight in Hyderabad on November 4. The police said he along with his father P. Vasu Babu and mother Usha Panchuri used to run a company named Somnath Associates Private Limited in Hyderabad. They met B.K. Mallik, a jeweller from Tilak Nagar in West Delhi, and soon won his confidence. In July 1999, they approached Mr. Mallik again claiming they had clinched a huge export order for rice and offered him a significant part of the projected profit if he pulled the deal through. Lured by the offer, Mr. Mallik agreed and at the instance of the accused opened an account in a Hyderabad bank. They then allegedly made him deposit Rs. 2.09 crores on some pretext and fraudulently got it transferred to their company's account on the basis of forged documents.z Investigations revealed that the accused had sent a forged bill of landing purportedly issued from a Mumbai-based company for negotiation to the Bank of Hawai in Singapore, the opener of the Letter of Credit.
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