Cease-fire monitoring group (CFMG) chairman Lt. Gen (retd.) N.K Singh has cautioned the public dealing with that FIC Finance (India) Ltd. In a press statement, Singh said FIC has duped many \u201cof large sums of money in Nagaland, Madhya Pradesh and other places.\u201d<\/p>\n
The company registered in London at a false address in 2011, dissolved itself in April 2013.
\nHe said four senior officials including Khalique Ahmed Khalil, vice president and three others were arrested in a fraud case in Indore in October 2012. In this regard, Singh has cautioned people dealing with anyone professing to be from FIC Finance (India) Ltd. <\/p>\n
In October, Economic offenses wing (EOW) sleuths from Mumbai arrested four persons of the company who had duped Rs. 75 crore from a Indore-based company that was looking for finance to fund its new acquisition of a coal mine in Australia. <\/p>\n
The accused claiming to be affiliated to a UK based company had promised a loan of $500 million to the local company. <\/p>\n
The four functionaries of FIC Finance (India) Limited, who posed as representatives of Fortis International Inc.– were Khalique Ahmed Khalil vice president, Vinayak Seshadri director accounts, Devendra Galid head, administration and one Shabih Ahmed Wazir Ahmed. EOW claimed FIC Finance (India) Limited, had no affiliation to Fortis International Inc. <\/p>\n
Sources said, the Indore-based business group, came across FIC Finance (India) Limited, a company registered with the Registrar of Companies.<\/p>\n
The office bearers of FIC reportedly told the Indore-based group that their parent company in London had earmarked Rs 5,000 crore to be invested in real estate in India. <\/p>\n
The Indore-based group sought a loan of $ 500 million (approximately Rs 2690 crore) to acquire a coal mine in January this year. <\/p>\n
The FIC office bearers allegedly asked them to pay Rs 45 lakh as processing fee, Rs 11 crore as brokerage, Rs 59 crore as bank guarantee and Rs 5 crore as short term loan, all totalling over Rs 75 crore. <\/p>\n
Later, officials of FIC issued two cheques to the Indore-based company, which could not be encashed for insufficient funds. <\/p>\n
\u201cWhen the borrower tried to get his money back by refusing the loan, the accused issued post-dated cheques that bounced,\u201d EOW sources said. Finally, the company lodged a complaint with EOW Mumbai.<\/p>\n","protected":false},"excerpt":{"rendered":"
Cease-fire monitoring group (CFMG) chairman Lt. Gen (retd.) N.K Singh has cautioned the public dealing with that FIC Finance (India) Ltd. In a press statement, Singh said FIC has duped many \u201cof large sums of money in Nagaland, Madhya Pradesh and other places.\u201d The company registered in London at a false address in 2011, dissolved […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[679],"tags":[],"class_list":["post-152079","post","type-post","status-publish","format-standard","hentry","category-nagaland-news"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/152079","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=152079"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/152079\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=152079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=152079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=152079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}