CA, NRI Father-Son Duo Caught in Rs 3.15 Crore Corporate Scam; Fake MCA Documents Exposed
A case has been registered by the Balongi Police against an NTI father and son for uploading fake documents on the Ministry of Corporate Affairs (MCA) website. The duo has been accused of cheating a senior citizen of Rs 3.15 crore. During the investigation, the police have arrested a chartered accountant and another man whose identity has not been revealed yet.
The case was filed by Parmjeet Singh, a 70-year-old retired banker from Balata Village, Gurdaspur district, and Jaspreet Singh, a private sector worker in Mohali. As per their complaint, both the accused father and son convinced them to invest in their company in return for huge profits and directorships.
The accused in this case are being named as Avtar Singh and his son Jaswant Singh, and CA Parminder Pal Singh. The complaint claims that Avtar Singh and his son are both directors of ATL Biofuel India Pvt Ltd, Bairampur village, Mohali district.
The complainant, Paramjeet Singh, informed us that the accused and his son told him that he would be made a director in their company and would get impressive returns. Fascinated by this offer, Paramjeet invested Rs 2.95 crore, while Jaspreet Singh invested Rs 20 lakh, a total of Rs 3.15 crore, for a project in Goh village, Ludhiana. The money was transferred to accounts linked to the company. Parmjeet was shown as a director, and Jaspreet was a shareholder. But when the Ludhiana project did not materialise, Jaswant and the accused CA allegedly told the investors to shift the project to Uttar Pradesh, claiming to offer a better subsidy from the UP government.
However, by July 2024, they said work had started on a Compressed Biogas (CBG) plant in UP. But no such plant was ever started and the investors never got their money back.
During the investigation, the police found that the accused had forged Paramjeet’s signature on the company’s board resolution and submitted fake documents on the website. By doing this, they showed the fake board approvals and ownership changes. The CA is accused of being the main contributor to this scam as he drafted and uploaded the forged documents.
A case has been registered against all three under the relevant section of the IPC, including cheating, criminal breach of trust, forgery, and criminal conspiracy.
The CA and the unidentified man have been arrested by the police and for the father and son, who are abroad, the notices have been sent.
