The Mumbai police on Monday arrested celebrity car designer and manufacturer Dilip Chhabria in connection with allegations of cheating and forgery made against him.
Sources suggest that the Indian car designer has been booked under sections 420, 465, 467, 468, 471, 120 (B), and 34 of the Indian Penal code. Furthermore, the Joint Commissioner of Mumbai Crime Branch Milind Bharambe has revealed that the car designer has been arrested for a major car financing and forgery scam that could amount to the tune of INR 40 Crore and could possibly go up to INR 100 Crore.
Joint commissioner of police (crime) Milind Bharambe on Tuesday said that they have found that nearly 90 DC Avanti vehicles manufactured by Dilip Chhabria Designs Pvt Ltd (DDCPL) were used for fraudulent financing. They found that multiple loans averaging Rs 42 lakhs for each car were availed on these cars by DDCPL. The company would pose as customers for their own manufactured cars and get loans from Non-Banking Financial Companies (NBFCs) which were not repaid. Such vehicles were later sold to other customers after availing financing by fraudulent means without the customer’s knowledge.