Absconding GTC head held while trying to flee India
Wanted by police in a Rs 540 crore cheating case, Sanjay Dalmia, who was on the run for the past three months, was detained at Kolkata airport on Monday.
Sanjay Dalmia, chairman of Mumbai based Golden Tobacco Company, was arrested at Kolkata airport on Monday evening. Wanted by the Mumbai police’s EOW in a Rs 540 crore alleged cheating case, he had been absconding for the past three months.
Attempting to fly out of the country, Dalmia was intercepted by immigration authorities and detained, as a look-out circular had been issued against him by the EOW. He was brought to Mumbai on Tuesday morning and produced in a court, which remanded him in police custody till July 14.
Dalmia, however, managed to keep giving EOW the slip. At least on two occasions, EOW teams raided his house in Delhi - the recent being a week and a half ago - but did not succeed in nabbing him. Though Dalmia’s family members were present, they claimed ignorance about his whereabouts.
Dalmia’s company produces well-known cigarette brands Panama and Chancellor, and owns 14 acres of prime land in Andheri, where the company’s headquarters is situated. As per the FIR, GTC had signed a memorandum of understanding with Sheth Developers and Suraksha Realty to jointly develop the plot in 2009 for Rs 540 crore.
Later, after having paid Rs 132 crore as part payment, Sheth Developers allegedly realised that the land came with huge liabilities in the form of Income Tax and Central Excise dues.
Apart from this, they found that there were several cases involving the land pending with the Board for Industrial and Financial Reconstruction and the Appellate Authority for Industrial and Financial Reconstruction.
Sheth Developers also alleged that when they brought this up with GTC, the tobacco giant tried to sell the land to a third party — Navi Mumbaibased Arrow Engineering Limited - and even signed a fresh MoU with them. AEL directors Tripta Malhotra, Vineet Malhotra and Natasha Malhotra also figure in the FIR.
The EOW booked Dalmia, GTC Managing Director J B Khetan, Vice Chairman Anurag Dalmiya, Director (Finance) Ashok Joshi and shareholder Pramod Jain (Jain, incidentally, had made a hostile takeover bid for GTC three years ago), under Sections 406 (criminal breach of trust), 420 (cheating), 120B (criminal conspiracy) and 34 (common intention).
Sanjay Dalmia, chairman of Mumbai based Golden Tobacco Company, was arrested at Kolkata airport on Monday evening. Wanted by the Mumbai police’s EOW in a Rs 540 crore alleged cheating case, he had been absconding for the past three months.
Attempting to fly out of the country, Dalmia was intercepted by immigration authorities and detained, as a look-out circular had been issued against him by the EOW. He was brought to Mumbai on Tuesday morning and produced in a court, which remanded him in police custody till July 14.
The GTC chief absconded after his plea for anticipatory bail was rejected by Supreme Court, and he was directed to surrender before a local court in Mumbai by April 11. The EOW waited till then for Dalmia to surrender, but when he failed to appear, a search for him was launched.
Dalmia, however, managed to keep giving EOW the slip. At least on two occasions, EOW teams raided his house in Delhi - the recent being a week and a half ago - but did not succeed in nabbing him. Though Dalmia’s family members were present, they claimed ignorance about his whereabouts.
Dalmia’s company produces well-known cigarette brands Panama and Chancellor, and owns 14 acres of prime land in Andheri, where the company’s headquarters is situated. As per the FIR, GTC had signed a memorandum of understanding with Sheth Developers and Suraksha Realty to jointly develop the plot in 2009 for Rs 540 crore.
Later, after having paid Rs 132 crore as part payment, Sheth Developers allegedly realised that the land came with huge liabilities in the form of Income Tax and Central Excise dues.
Apart from this, they found that there were several cases involving the land pending with the Board for Industrial and Financial Reconstruction and the Appellate Authority for Industrial and Financial Reconstruction.
Sheth Developers also alleged that when they brought this up with GTC, the tobacco giant tried to sell the land to a third party — Navi Mumbaibased Arrow Engineering Limited - and even signed a fresh MoU with them. AEL directors Tripta Malhotra, Vineet Malhotra and Natasha Malhotra also figure in the FIR.
The EOW booked Dalmia, GTC Managing Director J B Khetan, Vice Chairman Anurag Dalmiya, Director (Finance) Ashok Joshi and shareholder Pramod Jain (Jain, incidentally, had made a hostile takeover bid for GTC three years ago), under Sections 406 (criminal breach of trust), 420 (cheating), 120B (criminal conspiracy) and 34 (common intention).
