New Delhi, March 29 (Agency) Economic Offences Wing of Delhi Police arrested a British National in a case related to alleged forgery of documents in the name of Ministry of Finance, police said on Tuesday. The person has been identified as Bharat Amritlal Parikh, who is a British national, he was running a company engaged in the business of import and export of steel products, said Chhaya Sharma, Joint Commissioner of Police, EOW, Delhi Police. The police said that they received a complaint from the Ministry of Finance that a forged notification was used to stay the SARFAESI proceedings against the alleged company. The company raised a loan from Punjab National Bank(PNB) which turned to NPA in 2008, having an exposure of Rs 518 crore. Later on SARFAESI proceedings were initiated by the bank.
On the basis of the said forged notification, the District Magistrate, Bhuj, had put the possession of mortgaged property and SARFAESI action against the alleged company on hold. During investigation, it was found that Parikh in conspiracy with his associates prepared and used alleged forged notification in getting the SARFAESI proceedings stayed. Verification made at Bhuj, Gujarat and the details procured from various quarters had established the forgery taking place, said Sharma. Procuring a loan in the name of the alleged company and subsequently getting the SARFAESI proceedings of the Bank stayed through the use of a forged notification of the Ministry of Finance. An LOC was opened against Parikh. Consequent to this, he was detained at IGI Airport, New Delhi on arrival from London and thereafter arrested. He has been taken on Police Custody remand and further investigation including the efforts for tracing of the other remaining accused is in process, said Sharma.