Prem Chand - Latest News Update, Information, Photos & Videos on Prem Chand at Lokmat Times

Delhi Police's Economic Offences Wing (EOW) on Friday arrested an absconding commission agent of Narela Anaj Mandi accused of duping 64 farmers out of over Rs 3 crore on the pretext of giving them higher rates of interest for their money.According to police, complainants Sadhu Ram and 11 others had alleged they had sold foodgrains and agriculture produce to the accused, Prem Chand (60), who own Jageram and Sons at Narela Grain Market. The farmers also alleged that they had given crores of rupees to Prem Chand who had promised them high interest on their money.The complainants said when they asked for money for their agricultural produce, which they sold to him and the principal amount on their investment, the accused refused to pay them the amount and fled along with his family from Narela. An initial enquiry revealed that he had cheated 64 farmers of a total of Rs 3.5 crore.Prem Chand was arrested from Faridabad by a team consisting of Sub Inspector Shiv Dev Singh on Friday.During an investigation, it was found that in order to settle his losses in business, Prem Chand had decided to lure farmers by promising to give high returns on their investment and issued them receipts too. Subsequently, it was revealed that the shop, where he was using to operate his business from had been mortgaged against the loan he had borrowed from banks. The shop in Narela was seized by banks under SARFAESI Act.Prem Chand has been booked under Sections 420 (Cheating), 406 (Punishment for criminal breach of trust) and 120 (Concealing design to commit an offence punishable with imprisonment). He graduated from Delhi University and belongs well-settled family.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Narendra Modi

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Prem ChandFOLLOW

Prem chand, Latest News

National :Greater Noida dog bite case: Dog owner fined Rs. 10,000, to pay for victim's treatment

Greater Noida Industrial Development Authority (GNIDA) has imposed a fine of Rs. 10,000 on the owner of the pet ... ...

National :How 'Lifafebaaz' gang duped people: Original notes on top, bottom & in between a bundle of paper

New Delhi, June 24 Three members of a gang of cheats known as 'Gaddibaaz' or 'Lifafebaaz' were arrested ... ...

National :Soldier found dead inside army camp in Srinagar

Srinagar, Dec 3 A soldier was found dead under mysterious circumstances inside the Badami Bagh Cantonment camp in ... ...

National :Delhi Police EOW arrests agriculture commission agent for duping over Rs 3 cr from farmers

Delhi Police's Economic Offences Wing (EOW) on Friday arrested an absconding commission agent of Narela Anaj Mandi accused of duping 64 farmers out of over Rs 3 crore on the pretext of giving them higher rates of interest for their money. ...