PANAJI
The partners of the reputed firm, M/s Shanti Agro Processor Pvt Ltd have been booked for allegedly defrauding a bank of around Rs 10.80 crore and selling the mortgaged immovable property located at Betki. The buyer of this property including the factory has also been made an accused in the case registered under sections 406 (criminal breach of trust),420 (cheating), and 120 B (criminal conspiracy) of IPC by the Economic Offenses Cell.
The accused are identified as Shanti Kamath and Arbettu Kamath, both Directors of the company; Ashish Kamath and Maitri Kamath, both partners and the 49-year-old buyer Bhanudas Dattarya Vaze.
“…at Survey No.181 Hissa No.7 H.No.470 A & B Vazre Sanquelim, the accused persons from Sr.No.1 to 4 who are the partners of M/s Shanti Agro Industries obtained loan from Canara Bank, Panaji total amounting Rs.10.80 crores. They defaulted in repaying the loan amount and when the bank initiated the recovery proceedings…the five accused persons hatched a criminal conspiracy and with malafide intention to defraud the bank, sold the mortgaged immovable property, that is, Land known as “Hodlem Moll” also known as Vodlem Moll together with factory shed/building in favour of Vaze,” reads the FIR registered based on the complaint filed by the bank official.
