14 DC Avanti cars seized from India’s top car designer Dilip Chhabria’s Pune plant
The Criminal Intelligence Unit (CIU) of the Mumbai criminal branch, investigating the alleged car financing and counterfeit racketeering, seized 14 DC Avanti cars as well as 40 engines and 19 other high-end vehicles on Monday. The CIU, which arrested leading Indian car designer Dilip Chhabria in the case, raided the Chhabria manufacturing unit in Pune and seized the vehicles.
Last week, the CIU arrested Chhabria for carrying out an alleged auto finance racketeering. Police say loans were repeatedly obtained on personal DC Avanti cars from non-bank financial institute companies (NBFCs) after registering them in different states. The total amount of fraud is said to be over Rs 40 crore.
Officials said the investigation revealed that Dilip Chhabria Designs Private Limited, posing as customers of his own cars, had taken out a loan from several NBFCs. So far 127 DC Avanti cars have been made and police suspect 90 cars have been used for fraudulent financing.
The criminal branch also named Chhabria’s son and sister and his two company directors as wanted defendants in the case. They also suspect the role of NBFC officials who used the loan without due diligence and that of RTO officials across the country who helped register these cars.
CIU’s API Sachin Vaze said, “We also identified 68 other cars other than DC Avanti cars that were used to get loans in the same way. Most of these cars are high end luxury cars.
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Posted on: Monday January 04, 2021 11:51 PM IST