Pune: Industrialist Prakash Chhabria Of Finolex Among 5 Persons Booked For Forgery
Pune, February 6, 2021: Five persons including industrialist Prakash Pralhad Chhabria, have been booked for fraudulently obtaining control of Finolex Cables and Finolex Plasson India by forging documents, police said.
A case has been registered at Chatushrungi police station against Prakash Pralhad Chhabria, Sanjay Asher, Dr Sunil Pathak, Aruna Katara, Meena Disa and others. His cousin Deepak Kishandas Chhabria (58), a resident of Aundh, who is the executive director, has lodged a complaint against them.
According to police, the incident took place on March 31, 2016, at Prakash Chhabria’s house on Ganeshkhind Road and other places.
As per the complaint, Pralhad Chhabria had mentioned in his will that after his death his 82.07 percent or 1 lakh 16 thousand 922 shares will be transferred to Pralhad Chhabria Trust. The complainant was to get 29 percent and his brother was to get 17percent shares. However, the accused allegedly forged the documents and kept them deprived of shares worth Rs 2216 crores, the complaint states.
“The accused had made bogus gift deeds of Pralhad Chhabria as well as forged share transfer form and certificate and Prakash Chhabria kept 70.40 percent shares with himself. Thus trying to take control of Finolex Cables Pvt Ltd and Finolex Plasson India Pvt Ltd”, the complaint states.
The Economic Offences Wing (EOW) of Pune Police Crimes Branch is further investigating the case.
