An attempt to defraud through fake bank guarantee’s-modus operandi


An attempt to defraud through fake bank guarantee’s-modus operandi

Today, RBI, DNBS department, has released a Notification on an ‘Attempt to defraud using fake bank guarantee-modus operandi’

The RBI Notification no is RBI/2011-12/206,DNBS(PD).CC. No.245 /03.10.42 /2011-12 dt.September 27 , 2011 and is addressed to All Non Banking Financial Companies / Residuary Non Banking Companies

The modus operandi in brief

01) The Bank Guarantees were fake.

02) The signatures of the bank officials appearing on the BG were forged.

03) The format of the BG’s were different from the Banks BG format, which had purported to have been issued.

04) The BG serial numbers, too did not match with that the Bank’s, which had purported to have been issued.

The names of the beneficiaries /representative of beneficiaries and applicants of the BGs are as follows:

Beneficiary:

M/s SFT Exports

Sumsh Infrastructure Pvt Ltd

M/s Tulip and Co

Alka Hotel Pvt Ltd

Beneficiary Representative:

Mr Shukum Patel

Shri Shantanu Das

Shri Subhendu Chowdhury

Sri Akash Mitra

Applicant:

M/s Green Apple Infracom Pvt Ltd

J P Enterprise

NBFCs have been advised to take notice of the above facts and to exercise due caution while handling cases involving the above mentioned firms/individuals involved in the instant case.

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