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ED files money laundering case against DC Motors owner Dilip Chhabria

Enforcement Directorate has launched a money laundering probe against Dilip Chhabria based on the cases registered against him by Mumbai Police

July 29, 2022 / 09:32 AM IST

The Enforcement Directorate (ED) on July 29 conducted searches at premises linked to DC Motors owner and car designer Dilip Chhabria.

The federal agency has launched a money laundering probe against Chhabria based on the cases registered against him by the Crime Intelligence Unit (CIU) of the Mumbai Police and the Economic Offences Wing (EOW).

Also Read | What the PMLA judgment means for powers of ED

Chhabria was arrested by the police in 2020 after his firm was found to have allegedly availed loans of about Rs 40 crore from non-banking financial companies.

He is accused of borrowing Rs 42 lakh loan per car by using the documents provided by his customers at the time of purchase and then defaulting.

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He is also accused of using the same chassis number and engine number for his DC Avanti cars and then taking multiple loans under that one chassis number and engine number.

As per the police, DC motors had manufactured 120 Avanti cars till the time of the arrest. ED's case is based on this case of the Mumbai Police.

Chhabria was arrested by the Mumbai Police Crime Intelligence Unit (CIU) when dismissed cop Sachin Waze was leading the unit. Later Mumbai police EOW also booked Chhabria.
Moneycontrol News
first published: Jul 29, 2022 09:32 am
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