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  1. Ex Ranbaxy director arrested for selling already mortgaged property

Ex Ranbaxy director arrested for selling already mortgaged property

Former director of pharmaceutical company Ranbaxy has been arrested by Delhi Police’s Economic Offences Wing for allegedly selling a property that was mortgaged.

By: | Published: October 26, 2017 8:43 AM
Ranbaxy, ranbaxy director, mortgaged property, selling property, former ranbaxy director,  Economic Offences Wing, delhi police The arrest was confirmed by Additional Commissioner of Police (EOW), Suvashis Choudhary. (Reuters)

Former director of pharmaceutical company Ranbaxy has been arrested by Delhi Police’s Economic Offences Wing for allegedly selling a property that was mortgaged. The accused, Bhai Manjeet Singh was arrested from his residence on Wednesday, EOW officials said. The arrest was confirmed by Additional Commissioner of Police (EOW), Suvashis Choudhary. Choudhary said, that a case of cheating was lodged against him on June 24, 2016, Indian Express reported.

Choudhary further said, ”During investigation, Singh was found to be involved in the alleged cheating case, following which we arrested him on Wednesday. He was produced before a city court, which has sent him to Tihar Jail.” A police officer familiar with the details of the case said Singh told a businessman, Ashok Gupta, that House No. 28A, at Prithviraj Road in Lutyens’ Delhi, was worth Rs 254 crore.

Following this, Gupta agreed to buy it and paid the first instalment to Singh. He later found out that the property was already mortgaged. Singh was then booked under IPC sections 406 (criminal breach of trust), 420 (cheating), 468 (forgery) ,471 (using as genuine a forged document) and 120 (criminal conspiracy).

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