Proprietor of M/s Ghosh Brothers arrested for financial fraud in Guwahati

STAFF REPORTER

GUWAHATI: The Bureau of Investigation Economic Offences (BIEO) arrested the proprietor of M/s Ghosh Brothers, Pratul Kumar Ghosh on Saturday, in relation to BIEO PS case no 16/2021 u/s 120 (B) 420/406/409 IPC.

BIEO Superintendent of Police Mano Mohan Boro said "On 13.08.2021, an FIR was lodged by the General Manager, IDBI, Kolkata in which it was stated that Pratul Kumar Ghosh had taken two loans from IDBI in respect of Krishi Vikash Yojana and Dairy Development, amounting to Rs 1.10 crore. But instead of using the loan amount for the specific purposes for which these were granted, Ghosh utilized the amount for personal use, thereby violating the terms of the loan agreement. Further, in spite of several reminders by the bank, Ghosh failed to repay the loan amount."

On receipt of the FIR, BIEO conducted a thorough investigation into the case and found sufficient evidence against Ghosh. Hence he was arrested on Saturday from Bhangagarh for alleged financial fraud. He was produced before the court and remanded to two days police custody, Boro added.

He further said, "Ghosh is also an accused in NBFC related case (no. 05/201 u/s 120 (B)/420/406 r/w Sec 4/5/6 of PC& MCS Act and sec 5 of APID Act, 2013) registered with BIEO wherein around Rs 70 lakh was collected illegally as deposits from public and subsequently misappropriated. He being director and proprietor of Ghosh Brothers Realtors Pvt. Ltd and Maple Infracon Limited, both registered at ROC Kolkata, issued several redeemable debentures in crores in the name of several schemes promising unrealistic high interest up to 60 per cent per annum through Ghosh Brothers Realtors. The promises returns were never made to majority of investors and gullible and innocent people of Assam were duped of their hard-earned money in this way."

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