New Delhi, August 19, 2014: The Central Bureau of Investigation has arrested a private person who was absconding and declared Proclaimed Offender by the Trial Court in a case for causing an alleged loss of Rs. 149.53 crores (approx.) to NAFED.
The arrested accused was produced before the Trial Court, Mumbai and was remanded to Judicial Custody till 21.08.2014.
A case was registered on 21.09.2006 on the allegations of cheating and misappropriation of funds of National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED). The accused persons submitted false and forged documents to NAFED for disbursement of an amount Rs. 259.59 crores (approx.) purportedly for export of iron ore. A substantial part of the amount was misappropriated and utilised for purchasing movable & immovable properties. A loss to the tune of Rs.149.53 crores (approx) was allegedly caused to NAFED.
A chargesheet was filed on 15.12.2008 by CBI against 9 accused before the ACMM, 19th Court, Mumbai u/s 120-B IPC r/w sec. 409, 411, 420, 467, 468, 471 of IPC.
The said private person was absconding and he was declared Proclaimed Offender on 25.07.2014 by the Trial Court. He had allegedly submitted false stock and letters to NAFED for disbursement of funds in the name of accused firm. CBI traced the accused and arrested him at Bangalore.
(SK Vyas/Jalandhar)