Two arrested in Delhi for cheating NBFC of Rs 3 crores ANI | Updated: Dec 12, 2020 17:49 IST
New Delhi [India], December 12 (ANI): Two persons were arrested by the Economic Offences Wing of the Delhi Police for allegedly cheating a non-banking financial institution (NBFC) of Rs 3 crores, police said on Saturday.
According to the police, the two arrested persons have been identified as Essa Ismail (47) and Amrendra Shashkant Totade (55), Directors of the alleged company Advanced Computers and Mobiles India Pvt Ltd. Both the accused are residents of Mumbai. The investigation reveals that the alleged company remitted the margin money to the vendor and got the loan disbursed. Thereafter, the loan amount was misappropriated in repayment of an LC (Letter of Credit) already availed by the alleged company from YES Bank, the police said.