Company accountant arrested by Mumbai police for siphoning Rs 6.49 crores

Mumbai: The Kalachowki police on Thursday arrested an accountant with a private company involved in misappropriation of Rs 6.49 cr after the Supreme Court denied her relief. She had moved the SC after the Bombay high court rejected her anticipatory bail plea. Her husband, Rupesh, has been granted anticipatory bail. Sachin Sawant, managing director of Subhadra Metals Private Limited, had lodged a complaint saying an internal probe showed that loans worth Rs. 3.60 crore had been obtained from various private financiers and financial institutions in the name of the company without the directors’ knowledge. The company received a call from Mahindra Finance regarding repayment defaults for loans that the directors claimed they had never taken.

Police alleged that after the loan amounts were credited to the company’s accounts, Shweta Salvi illegally diverted funds to her own bank account, as well as to her husband's and other co-accused's accounts, by misusing OTPs and online banking facilities. The FIR further alleged that the signatures of company directors were forged on cheques to withdraw funds, resulting in an alleged fraud of Rs. 6.49 crore.