ranjitjat
March 24th, 2004, 02:41 AM
New Delhi, March 23
The Economic Offences Wing today claimed to have arrested a person on the charge of embezzling US $5,30,000 from an NRI’s account in Delhi.
The person, identified as R S Batra, cousin of the late J S Premi, from whose account the money was transferred, has been arrested. While Batra has been remanded in judicial custody, a hunt is on for his associate Baljit.
The sleuths received a complaint from J S Premi’s widow Sharan Premi, resident of New York, that her husband’s Indian partners, who also happened to be their relatives, had embezzled more than US $5,30,000 from her late husband’s account in Vysya Bank, Connaught Place.
In the complaint, she had mentioned that R S Batra, resident of Punjabi Bagh, forged a Power of Attorney in his name.
Subsequently when J S Premi died on September 2, 1993, in the US, Batra deleted Sharan’s name and inserted the name of Baljit Singh, nephew of Premi.
During preliminary investigations, the sleuths found out that the suspects were into import and export and operating bank accounts of J S Premi in India.
It also came to light that J S Premi prepared a GPA in January 1993 and nominated Batra for purpose of operating his bank accounts in India on his behalf. A Foreign Currency Non-Resident (FCNR) account No 0756232/8/93 was opened on January 28, 1993 and a sum of US $5,33,802.85 was deposited in it.
Subsequently, Baljit’s name was added to the account on September 3, 1993; After Premi died on September 22, 1993, Baljit became the sole beneficiary of the account and the existing deposits were further renewed for six months from January 27, 1994. Again, on the instruction of Baljit on August 8, 1994, the total amount in the account was transferred to an account in Standard Chartered Bank in Dubai through TT.
Investigations also revealed that the letter, which was submitted to the Chief Manager, Vysya Bank, Connaught Place, by Batra was also forged with some insertions to benefit Baljit Singh.
cheers &Regards
Dharmpal
The Economic Offences Wing today claimed to have arrested a person on the charge of embezzling US $5,30,000 from an NRI’s account in Delhi.
The person, identified as R S Batra, cousin of the late J S Premi, from whose account the money was transferred, has been arrested. While Batra has been remanded in judicial custody, a hunt is on for his associate Baljit.
The sleuths received a complaint from J S Premi’s widow Sharan Premi, resident of New York, that her husband’s Indian partners, who also happened to be their relatives, had embezzled more than US $5,30,000 from her late husband’s account in Vysya Bank, Connaught Place.
In the complaint, she had mentioned that R S Batra, resident of Punjabi Bagh, forged a Power of Attorney in his name.
Subsequently when J S Premi died on September 2, 1993, in the US, Batra deleted Sharan’s name and inserted the name of Baljit Singh, nephew of Premi.
During preliminary investigations, the sleuths found out that the suspects were into import and export and operating bank accounts of J S Premi in India.
It also came to light that J S Premi prepared a GPA in January 1993 and nominated Batra for purpose of operating his bank accounts in India on his behalf. A Foreign Currency Non-Resident (FCNR) account No 0756232/8/93 was opened on January 28, 1993 and a sum of US $5,33,802.85 was deposited in it.
Subsequently, Baljit’s name was added to the account on September 3, 1993; After Premi died on September 22, 1993, Baljit became the sole beneficiary of the account and the existing deposits were further renewed for six months from January 27, 1994. Again, on the instruction of Baljit on August 8, 1994, the total amount in the account was transferred to an account in Standard Chartered Bank in Dubai through TT.
Investigations also revealed that the letter, which was submitted to the Chief Manager, Vysya Bank, Connaught Place, by Batra was also forged with some insertions to benefit Baljit Singh.
cheers &Regards
Dharmpal