S. Korean man cheated, case filed against 10
The crime branch has registered a case against 10 people for swindling crores of rupees of a South Korean businessman.
Mr B.J. Cho, director of South Korea-based M/s Asis Company Ltd., which has leading car manufacturing companies Hyundai, Toyota and Kia as clients, told the court that he had come to India in 1999 and was introduced to the accused Deepak Khatter by a common friend.
He later offered Khatter employment in his company.
In 2001 Khatter suggested him to open a unit in India. The entire process of registration and land procurement was executed by Khatter, who employed a number of persons, including his brother Ravi Khatter, in the unit.
“Mr Cho and Deepak also signed some MoUs wherein the share holding pattern of the company was fixed as 75:25 respectively,” the court was told.
The factory was constructed at Greater Noida in 2002. As the business grew over the years, Khatter allegedly started diverting a large amount of money to his own company M/s Digitext and even changed the share holding pattern by obtaining signatures from Mr Cho who doesn’t know English.
Cho became suspicious and ordered an internal audit by his South Korean accountants. However, Khatter and with his employees, including chartered accountants Sandeep Sehgal and N.K. Sharma, refused to cooperate with the auditors and didn’t divulge details.
The complainant then learnt that Khatter had started his own company M/s Digitext in Paschim Vihar through which he used to deal with the clients of Mr Cho and swindled more than `2 crores from his company.
He had given his residential address as the official address of the company and made receipts wherein 10 years’ advance rent was shown paid to the property owner.
Further inquiries revealed that Khatter had allegedly inflated the cost of construction of firm premises by more than `2 crores and even “employed” non-existent people who were paid regular salaries. “Even the bills prepared for the company’s clients were forged to show less sale to Mr Cho who used to come to India very often. On one such occasion, the accused provided a receipt of 172 litres petrol purchased from a south Delhi petrol pump on a single day,” the court was informed.
A case under various sections of cheating and forgery has been registered against 10 persons.
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