The Economic Offences Wing (EOW) of the Mumbai police are in process to check financial details and transactions of Tops Grup in connection with their ongoing probe.
The EOW has booked vice president of Tops Grup security Ramesh Iyer and others. Iyer is complainant in a case was registered with the Yellow gate police station, the basis of the Enforcement Directorate's (ED) money laundering probe on the alleged misappropriations in a security contract bagged by TopsGrup.
The EOW have begun their probe pertaining to the allegations levelled by Rahul Nanda, promoter and chairman of the group. Nanda’s representative approached the Mumbai police following a case has been registered. The agency is likely to conduct a forensic audit, scrutinize the bank transactions and record the statements of concerned employees.
The cross-complaints between Nanda and former executives of the firm pertain to financial irregularities with both parties accusing each other of frauds. The case has also turned into a political row between the ruling Shiv Sena-led Maha Vikas Aghadi and the opposition Bharatiya Janata Party. The ED has summoned Shiv Sena legislator Pratap Sarnaik and his son Vihang in the case who are yet to appear before the agency.
According to Iyer’s complaint, Nanda and other connected persons diverted huge funds from the account of Tops Grup companies to various accounts in India and to accounts of overseas companies. As per the allegations, the company was defrauded to the tune of Rs 175 crore. Nanda had earlier denied allegations.
According to complaint of Nanda’s representative, Iyer and others were involved into fraudulently entering into conspiracy to cause themselves gains and losses to the company. The case is being investigated under Indian Penal Code sections for cheating, forgery and criminal conspiracy. Despite repeated attempts, Iyer was not available for comment.
