MUMBAI: With the arrest of India’s leading car designer Dilip chhabria Monday, policeman They claim to have uncovered an interstate auto finance and counterfeit scam worth nearly Rs 100 million. On Tuesday, Chhabria (68) came before the Esplanade metropolitan magistrate, who placed him in police custody until January 2.
Police claimed that the Chhabria company, Dilip Chhabria Designs Pvt Ltd (DCDPL), manufactured 127 Avanti cars in the past three years and sold them in India and abroad with multiple registrations in various states. Up to 90 of these cars were also used for fraudulent financing by borrowing from non-bank finance companies (NBFC), they added.
Assistant Police Inspector Sachin waze It said the defendant, using DCDPL, posed as a customer of the Avanti cars and took out multiple loans for each vehicle from various NBFCs, averaging Rs 42 per car. He then registered the cars in another state before selling them to a third party. Many of the loans were declared NPA by the NBFC.
Investigations showed that Chhabria had mortgaged 41 cars with BMW India Financing Services and 16 cars were never registered with any RTO.
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