Mumbai:
The city economic offences wing (EOW) on Tuesday evening arrested the director of a real estate firm for cheating a financial services firm, Capri Global Advisory Services, to the tune of Rs 14.5 crore by failing to repay a loan.
Yogesh Sarda (45), director of Silver Oak Solutions Pvt.Ltd, was produced before the Esplanade Court, on Wednesday , which remanded him in police custody until July 1.
“Sarda approached Capri Global, gaining its confidence by claiming his firm's turnover was around Rs 800 crore and he also had over 130 acres of land near Panvel,“ police said.Shortly after, his firm obtained a short-term loan of Rs 14.5 crore from Capri Global, mortgaging a plot of land to do so, which Capri Global officials learnt after a few months, was in dispute. “So they asked Sarda's firm to repay the loan at the earliest, which it failed to do, leading to a police complaint,“ the officer said.
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