Former director of Religare Enterprises Ltd booked for cheating firm to the tune of over Rs 3 crore

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Published: July 2, 2020 9:31 PM

Police said Religare Finvest Limited (RFL), a subsidiary of REL, came across a transaction in which fictitious invoices were raised and forged documents created to cheat the firm to the tune of over Rs 3 crore.

Religare, Religare fraudAccording to the FIR, the accused was a director on the board of REL from November 17, 2017 to February 13, 2018.

The Delhi Police has registered a case against a former director of Religare Enterprises Limited (REL) and others for allegedly cheating the firm to the tune of over Rs 3 crore, officials said on Thursday.

Police said Religare Finvest Limited (RFL), a subsidiary of REL, came across a transaction in which fictitious invoices were raised and forged documents created to cheat the firm to the tune of over Rs 3 crore.

After conducting an internal enquiry of the invoices, RFL filed a complaint against the former director of REL and others in the Economic Offence wing of the Delhi Police for criminal breach of trust, cheating, forgery, criminal misappropriation, criminal conspiracy and abetment.

“We have registered an FIR on Wednesday against the former director on board of REL and others for causing wrongful loss of over Rs 3 crore to RFL. The investigation in the matter is underway,” a senior police officer said.

According to the FIR, the accused was a director on the board of REL from November 17, 2017 to February 13, 2018.

In the FIR, RFL has stated that the director has never held any management position in RFL and had no authority to permit any payment on behalf of the firm.

RFL has also alleged that the director, using his power and influence, diverted funds of the company, causing wrongful loss to the organisation, the FIR said.

He and other known and unknown persons, in conspiracy with each other and in order to benefit their own entities, forged the invoices and siphoned funds of RFL, the FIR stated.

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