Developer Arrested in Multi-Crore Bank Scam
Anil Mithas, a real estate developer, has been arrested by Delhi Police's Economic Offences Wing for allegedly defrauding a private bank of crores. Authorities found financial discrepancies involving siphoned loan amounts and mortgaged flats, leading to insolvency proceedings and an ongoing investigation.
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Delhi Police's Economic Offences Wing has apprehended a real estate developer, Anil Mithas, for his alleged role in a significant financial fraud involving a private bank. Mithas, aged 52, is from Noida and serves as the director and majority shareholder of a real estate group.
The scandal emerged when it was discovered that a private bank had extended loans worth Rs 100 crore and Rs 65 crore in 2016 and 2017 for Noida and Gurgaon projects under M/s Unnati Fortune Holding Limited (UFHL). Allegations indicate Mithas misrepresented facts, diverting the sanctioned funds.
In 2019, financial creditor M/s Nupur Finvest Pvt Ltd approached the National Company Law Tribunal (NCLT), reporting that UFHL mortgaged the same 75 flats twice. This triggered insolvency proceedings and an audit revealing major financial irregularities from March 2014 to March 2019. Subsequently, Mithas was arrested on May 8, with investigations ongoing.
(With inputs from agencies.)
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