UK National Arrested In Delhi For Forging Document To Stay Legal Proceedings
NDTV
The UK national allegedly forged a document to stay proceedings against his firm under a law to recover non-performing asset loans, police said.
A British national has been arrested for allegedly forging a document in the name of the finance ministry to stay proceedings against his company under a law to recover non-performing asset loans, police said on Tuesday.
London resident Bharat Amritlal Parikh's Gujarat-based GPT Steel industries Ltd was facing proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, they said.
The Act empowers banks and financial institutions of India to take over assets and properties of a borrower to recover an unpaid debt.
Parikh is a charted accountant and is also engaged in the business of import and export of steel products. He is a British national with an Overseas Citizenship of India (OCI) passport, police said.
