Delhi Police Nab Pump Co. Owner In ₹5.5 Cr Cheating Case

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By: Alok Singh
Updated: 25 July, 2022 3:55 pm IST
Delhi Police EOW arrested Dinesh Kumar Gupta as he tried to flee from the country

NEW DELHI: Dinesh Kumar Gupta, former Managing Director of Ujala Pumps Pvt. Ltd., has been attested by the Delhi Police Economic Offences Wing (EOW) in connection with a ₹5.5 crore cheating case with a Delhi-based businessman. He was arrested at IGI Airport, while he was trying to flee out of the country to Dubai.

DCP (EOW) JK Meena said a case was registered on the complaint of Arun Gupta, owner of a firm named JK Gupta & Sons (India).

In 2012, the accused approached the complainant and took a loan of ₹65 lakhs from him. Further, in December 2012 the accused persons took another loan of ₹3,35,50,000 from the complainant on the condition that if he failed to repay the loan, he would sell his property in Bhiwadi, Rajasthan to the complainant.

Again, in 2015, the accused, who also had business relations with the complainant, stopped paying bills of ₹2 crores, raised by the complainant’s firm which is JK Gupta and Sons (India) for the sale/supply of ball bearing to the alleged company M/s Ujala Pumps Pvt. Ltd. Thereafter, the complainant approached the accused for repayment of his unsecured loan and outstanding bills ₹5.35 crores.

In 2016, the accused persons approached the complainant and told him that they are ready to sell their property in Rajasthan to the complainant at the market value of 7 crores to clear all outstanding dues.

“In this regard, an agreement to sell was executed between both the parties mentioning details of outstanding dues and the fact that the property is free from all the encumbrances in 2016. Later the complainant came to know that the said property was already mortgaged with Union Bank of India,” Police said.

During the investigation, notices were issued to the accused but he did not turn up. Several raids were conducted to apprehend the accused Dinesh Kumar Gupta but he was absconding and deliberately evading his arrest. Therefore, he was declared Proclaimed Offender.

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