Mumbai:
A forged letter-of-credit for Rs 7 crore, issued by the Marine
Lines, Mumbai, branch of Dena Bank, has
come to light. A Mandlekar, an officer of the bank, had issued the
letter-of-credit for procuring materials for yarn trading in
favour of three companies. These companies subsequently
discounted the letter-of-credits in three branches of UTI Bank,
located in Mumbai boroughs.
The
forgery came to light when UTI Bank tried to settle accounts with
Dena Bank, which has refused to pay UTI Bank as the documents used
for the letter-of-credit was forged, and Mandlekar had no
authorisation to sign the documents. Mandlekar has since been
suspended and the case has been reported to the CBI.
The
companies involved are: Gourav Continental, Uma Petroproducts and
Mahesh Kothari Share and Broking.These companies had been enjoying
financial facilities from the Marine Lines branch of Dena bank
since 1999.
The
promoters of these
companies are Mahendra Pandey, Alka Pandey, Bhupendra Mehta and
Mahesh Kothari.
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