Name of the Complainant: Nishi Kant Gaur, Deputy Zonal Manager (Recovery), Bank of India, Zonal Office, New Delhi
Police Station: CBI, ACB, NEW DELHI
Section Charged: 120B, 420, 467, 468, 477A, IPC
FIR No: RC0032023A0024 dated June 30, 2023
Name of the Accused:
- Shri Sudershan Kumar Slo Sh. Gokul Chand (Guarantor of the firm and
father of Mr Rajiv Nanda), Rio M-66, balUdhyan Marg, Uttam Nagar, New
Delhi-110059. - Shri Sanjeev Nanda Slo Sh. Sudershan Kumar (Guarantor of the firm and
brother of Mr Rajiv Nanda), Rio M-66, Bal Udhyan Marg, Uttam Nagar, New
Delh i-110059. - Smt. Vibha Nanda Wlo Late Rajiv Nanda (Guarantor) R/oM-66, Bal Udhyan
Marg, Uttam Nagar, New Delhi-110059. - Other Unknown persons.
Shri Nishi Kant Gaur S/o late G N Gaur, Deputy Zonal Manager (recovery), Bank of India, Zonal Office, New Delhi vide letter no. NDZO:ARD:2021-22:170 dated 20.12.21 has submitted a complaint (enclosed with FIR) disclosing commission of offences punishable under section 120-B, 420, 467, 468 & 477A of IPC by Late. Rajiv Nanda (Principal Borrower and Proprietor of Mahavir Pharma Agency, a proprietorship concern) R/o M-66, Bal Udhyan Marg, Uttam Nagar, New Delhi-110059, Shri Sudershan Kumar S/o Sh. Gokul Chand, Rio M-66, Bal Udhyan Marg, Uttam Nagar, New Delhi-110059, Shri Sanjeev Nanda S/o Sh. Sudershan Kumar, R/o M-66, Bal Udhyan Marg, Uttam Nagar, New Delhi-110059, Smt. Vibha Nanda W/o Late Rajiv Nanda R/o M-66, Bal Udhyan Marg, Uttam Nagar, New Delhi-110059 and other, unknown persons. Accordingly,a regular case is registered and the investigation of the case is entrusted to Sh. Rajeev, Inspector. CBI/ACB/Delhi.
20.12.2021
To,
Head of the Zone,
Bank & Security Fraud Cell,
Central Bureau of Investigation
5-B,10/ Floor, “A” Wing.
CGO Complex, Lodhi Road
Jawaharlal Nehru Stadium Marg
New Delhi, 110003.
Sub: APPLICATION FOR LODGING FIRST INFORMATION REPORT AGAINST BELOW MENTIONED ACCUSED PERSONS UNDER THE RELEVANT PROVISIONS OF LAW INCLUDING INDIAN PENAL CODE, WITH RESPECT TO
MISAPPROPRIATION OF FUNDS, CRIMINAL BREACH OF TRUST, CHEATING AND FRAUD COMMITTED BY THE PROPRIETOR AND GUARANTORS OF M/S MAHAVIR PHARMA (A PROPRIETORSHIP CONCERN); THEREBY CAUSING WRONGFULL LOSS TO THE COMPLAINANT BANK TO THE TUNE OF RS. 10.27 CRORES (VIDE A/C NO. 603930100031089 & 603930100031090,_ VIKAS PURI BRANCH) AND CORRESPONDING WRONGFULL GAIN TO THEMSELVES.
Name of Accused person:
1.Mr. Rajiv Nanda (Principal Borrower and Proprietor of Mahavir Pharma Agency, a proprietorship concern) R/o M-66, Bal Udhyan Marg, Uttam Nagar, New Delhi- 110059,
2.Mr. Sudershan Kumar S/o Mr. Gokul Chand (Guarantor of the firm and Father of Mr. Rajiv Nanda) Rio M-66, Bal Udhyan Marg, Uttam Nagar, New Delhi-110059.
3.Mr. Sanjeev Nanda S/o Mr Sudershan Kumar. (Guarantor of the firm and brother of Mr. Raj iv Nanda) R/o M-66, Bal Udhyan Marg, Uttam Nagar, New Delhi-110059.
4. Mrs Vibha Nanda W/o Mr. Rajiv Nanda (Guarantor) R/o M-66, Bal Udhyan Marg, Uttam Nagar, New Delhi-110059.
Dear Sir,
I, Nishi Kant Gaur S/o Late Sh. G.N.Gaur, aged 55 years , presently posted as Deputy Zonal Manager (Recovery) with Zonai Office f\Jew Delhi Zone, would like to bring to your kind knowledge and attention that I am authorized by the Bank of India to file the present complaint against the above said accused no FROM Sr No One to Four, whose facts are as follows:
1.That the Complainant is Bank of India, a body Corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, having its Head Office at Star House, G-Block, Plot No. C-5, Bandra Kurla Complex, Bandra (East), Mumbai- 400 051 and one of its Zonal Offices at “Star House”, H2, Cannaught Circus, New Delhi-110001 and a branch in Budhela Market, Vikas puri, New Delhi-110018.
That Mr. Rajiv Nanda (Principal Borrower and Proprietor of the firm) has been in a banking arrangement with the applicant bank since the year1992 as a partner of M/s Mahavir Pharma Agencies which earlier was a partnership firm. The said partnership firm was transformed into a proprietorship in the year 2000 and Mr. Rajiv Nanda being the Proprietor.
That vide loan application dated 20.05.2000, Mr. Rajiv Nanda approached the complainant bank for enhancement of cash credit limit from Rs 15 Lacs to Rs 22 Lacs. Having believed the representations made by Mr Rajiv Nanda, the complainant bank on execution of all tile necessary documents afresh, on 22.08.2000, granted the cash credit limit of Rs 22 lacs in consideration of Collateral Security Viz Equitable Mortgage of a property No. M-66, Bal Udhyan Marg, Uttam Nagar, New Delhi-110059 owned by Mr Sudershan Kumar (father of Mr Rajiv Nanda). Mr. Sudershan created equitable mortgage i.e mortgage created by way of deposit of original title deed in favour of the bank.
That on request of Mr Rajiv Nanda the cash credit facility of Rs 22 Lakh was again extended to Rs. 28 lakhs vide Sanction letter dated 30.08.2001 against extension of collateral Security viz., Equitable Mortgage of a property no. M-66, Bal Udyan Marg, Uttam Nagar, New Delhi-110059 owned by Mr. Sudershan Kumar. Mr Sudershan Kumar extended the equitable mortgage in favour of bank.
That on request of Mr Raj iv Nanda and Mrs Vibha ilanda (Wife of Mr. Raj iv Nanda) on 25.04.2005 a housing loan of Rs 5.50 lacs for construction/purchase was also granted to Mr. Rajiv Nanda and Mrs Vibha Nanda against mortgage of property and deposit of original title deed of property Viz Equitable mortgage of property no. D-6A, UTTAM Nagar Extn, New Delhi owned by Mr. Rajiv Nanda. Mr. Rajiv Nanda also extended his said property as collateral security in his firm account M/s Mahavir Pharma Agencies.
That further on request of Mr. Rajiv Nanda, the said cash credit facility was enhanced from time to time and lastly on 18.07.2013 to.. 980 lacs having total exposure of Rs.985.50 lacs including housing loan of Rs.5.50 lacs respectively, Mr Rajiv Nanda and Mr Sudershan Kumar also extended the equitable mortgage
over their said property (i) M-66, Bal Udyan Marg, Uttam Nagar (ii) D-6A Uttam Nagar Extn, New Delhi-110059 in favour of complainant bank to secure the credit facilities granted/enhanced from time to time to Mr. Rajiv Nanda.
That the borrower failed in his financial discipline in servicing of the required interest/instalment despite vigorous follow up by the Branch. Hence the account was classified as NPA as on 30.09.2015
That after categorizing the account as NPA, it was decided to carry out Special Investigation Audit and accordingly, Forensic audit in the account was assigned to M/s Ravi Ranjan & Co.
That the Forensic auditors have revealed several transactions, linkages and instances where wilful irregularities were observed in related parties dealing and utilizations of funds. Further, absolute non-corporation from borrowers/Guarantors in providing base records and supporting documents for irregular transactions seems to indicate that transactions of fraudulent nature were done with malafide intention to cheat/defraud the complainant bank. In this regard, the Forensic Audit Report 30.10.2017 is attached with this complaint, specifically highlighted the following findings/ wilful irregularities:-
(i) The borrower firm has given loans & advances of Rs 42 Lakhs approx, for which schedule of parties, as to whom such loan/advances were given, is also not available in the audited financial statements.
(ii) The borrower firm is facing cash crunch & lacking liquidity, due to which CC Limit was also overdue and leading to NPA. Instead of using the funds available for business or for paying to the bank, so that account can be regular up to some extent, the oorrower used thesefunds for giving loans & advances, (Misappropriation of fund has been done through diversion of funds)
(iii) Following major differences were found with regard to debtor balances:
Tara Agency balance which was shown in stock statement as Rs 322.76 Lakhs, But as per tally records it was oniy Rs 9.41 Lakhs, that is difference of Rs 313.00 Lakhs and it was outstanding for more than 315 days. Similarly in case of Nyce Pharma Pvt Ltd the difference was 7.92 Lakhs with debtors outstanding for more than 205 days.
(iv) The financial statement submitted by the firm to the Bank for Financial Year 2012-13 and 2013-14 did not taily with those filed with the income tax department. Even the auditors signing the two financial statements were different. (Forgery has been done through manipulation of document)
(v) Auditor signing the Financial Statements were not holding Certificate of Practice. (Forgery has been done through manipulation of document)
(vi) That the borrower tried to create faux impression of sudden down fall in business by concealing the actual sales from the bank by submitting wrong and falsified financials.
(vii) Difference in stock and debtor: There was huge difference as per stock & debtor, as shown in the stock statement, which was also found during the physical verification and inspection of records during stock audit conducted on 14.03.2014. Accordingly the borrower was declared wilful defaulter on 29.06.2017.
That the complainant bank on 21.04.2016 received a summon from the court of Ms. Aditi Garg, Civil Judge, Tis Hazari Courts, Delhi to the suit for permanent and Mandatory Injunction filed by Sh. Sanjeev Nanda (Brother of Mr. Rajiv Nanda) against the Bank of India. In these Suit Mr. Sanjeev Nanda Claimed the ownership over the portion of property of M-66, ‘Bal Udhyan Marg, Uttam Nagar, Delhi i.e Second Floor without roof rights on the basis of Sale deed no. 13034, Book-1, Vol- 14867, Page-47 to 52, Dated 27.06.2007 executed by Shri Sudershan Kumar (Guarantor). (Cheating/forgery has been done by guarantor through selling of mortgaged property without informing complainant bank)
Thereafter, complainant bank to verify the said sale deed, has and found that Mr Rajiv Nanda (Borrower) stood as witness at the time of execution of sale deed No. 13034, Book- 1, Vol-14867, Page 47 to 52 dated 27.06.2007. (Cheating/forgery has been done by guarantor with collusion of borrower through selling of mortgaged property and using the fund without informing complainant bank).
That it has also come to notice through court/DRT that Mr. Rajiv Nanda (Borrower) has also sold over the portion of property of D-6A, Uttam Nagar Extn, Delhi i.e Second Floor without roof rights to one Mrs Rajani Goel wlo Shri Anand Prakash Goel vide Sale Deed Dated 19.04.2006 without informing the buyer about the
mortgage of property and also without giving information to the bank as the said property was mortgaged with bank in the year 2005. (Cheating/forgery has been done by borrower through selling of mortgaged property – without informing complainant bank)
That the borrower Mr Rajiv Nanda in collusion with Mr Sudershan Kumar (Guarantor) and Sanjeev Nanda and with common intention to cheat the complainant bank sold a portion i.e. Second floor of Plot No. M-66, Bal Udhyan Marg, Uttam Nagar, Delhi, Mortgage with Complainant Bank by Mr. Sudershan Kumar in the year 2000.
That it is self evident that guarantor Sudershan Kumar, Sanjeev Nanda (Son of Guarantor) and Rajiv Nanda in collusion with each other sold the property which is (entire property) mortgage with the complainant bank thereby played fraud and committed an act of cheating with the bank.
That the borrower failed in submitting periodic instalments and Interests. In collusion with its guarantor has dishonestly and fraudulently sold out the secured assets/mortgaged properties with a deliberate intention to prevent the bank i.e. the secured creditor in realization of its dues from the secured assets according to law. The borrower has wilfully siphoned off Bank’s funds for purpose other than its credit requirements and in the process, they have evaded repayment of funds extended to them. In the above said manner _Bank’s funds were diverted for purposes other than for which the credit facilities were advanced to borrower by the complainant bank and its also against the terms and conditions of sanction. The aforesaid suspects wilfully with mala fide intent have given effect to diversion of the fund received from the Complainant Bank. During the Forensic Audit conducted by Ravi Ranjan & co. it was found that the amount was diverted by borrower to others. The said act on the part of the above named accused persons manifests the offence of criminal conspiracy, cheating, fraud, forgeries, using false and falsified documents for committing misappropriation of funds and criminal breach of trust committed by them against the complainant bank.
That the accused persons are borrower and guarantor and all are in the same family. The accused persons dishonestly with the aid, consent and active connivance of each other and other persons have carried out the criminal act of misappropriation and dishonest conversion of funds for their wrongful personal gains. The accused persons have given the shape and effect to the forgeries and fabrication as a result of which siphoning has been carried out. By their acts of misappropriation, cheating and frauds, the monies entrusted to the accused persons have been utilized for their own benefit causing wrongful loss to the complainant.
That the accused persons with dishonest and fraudulent intention had forged and fabricated many documents including books – of accounts, fabricated documents/receipts, vouchers, bills and other valuable securities, falsified books of accounts, created false/fictitious liabilities, created bogus and fictitious entries, executed frivolous documents etc., and used the same as genuine to defraud the bank. Therefore, they have rendered themselves liable for investigation and thereafter prosecution and punishments under various sections of IPC and for such other offences under the other relevant acts in force as may be revealed/made out during the course of investigation.
That grave irregularities if committed by any public servants are not known to the complainant, through its internal enquiry. The names and addresses of prosecution witnesses will be made known as per the directions issued by CBI during the course of investigation. Departmental proceedings against staff in the
nature of staff accountability report are closed by the competent authority of the bank. Actions against said staffs for procedural delinquencies are under process. Apart from investigations related to financial audit and discipline, any other investigation related to criminal aspects is not conducted by the bank. No role of either any public servant or common conspirator in commission of the said crime is discernible to the complainant till date in its internal enquiry. Whether the crime committed has interstate or international ramification is unknown to the complainant. Involvement of the accused persons in any other fraud in the bank on an earlier occasion is unknown to the complainant.
That the original documents are with our Vikas Puri Branch, which has been filed with DRT, Delhi. As per forensic audit report, no role of Bank officials is discernible in commission of fraud in the manner narrated above. The staff side action for procedural delinquencies is under process. Role of unknown public servants in commission of the crime is not discernible presently which is not ruled out and is subject matter of investigation.
During the course of your investigation, if any instance of staff involvement in the perpetration of the fraud comes to light, complainant inform his concurrence to proceed with investigation against the said public servant/servants, as required under the provision of Section 17 (A) of PCA.
That the complainant bank is also doing its business within the local limits of Delhi having one of its Zonal office at “Star House”, H-2., Connaught Circus, New Delhi- 110001; and as such is filing the instant complaint. It is pertinent to mention that the complainant branch of the bank of India is doing its business in Delhi and all the documents with the accused persons were executed in Delhi and the offence was committed in Delhi.
In view of the above facts, we request you to register a FIR on Complaint of Bank of India against the culprits i.e. Mr. Rajiv Nanda (Principal Borrower and proprietor of M/s Mahavir Pharma), Mr. Sudershan Kumar, Mr. Sanjeev Nanda and Mrs Vibha Nanda W/o Mr Rajiv Nanda (All Guarantors in the account) and other persons U/s 406/409/419/420/467/468/471/120-6/34 IPC and other applicable sections at the earliest and investigate the matter and book the aforementioned accused persons for the offence committed by them under the sections mentioned and facts narrated above and initiate appropriate criminal proceedings against then, in accordance with law. The roles of public servants and others, if any, having obtained wrongful gains to the aforesaid accused persons, may also be investigated. A copy of the FIR may please be furnished to us. A check list duly signed by the undersigned is attached to this complaint in terms of guidelines dated 13.05.2015 of DFS. Further, we apprehend that accused persons will tamper with and destroy the evidence. influence the witnesses and are likely to flee from the country to dodge prosecution for their acts of criminality, so earliest action is required.
Thanking You,
Your’s faithfully,
For BANK OF INDIA
Authorized Signatory
Dy. Zonal Manager Recovery, New Delhi
Star House,
Connaught Place
New Delhi 110001.