Mumbai: Bizman held for trying to swindle Dutch national

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Mumbai Police's Economic Offences Wing (EOW) has apprehended a businessman for reportedly swindling a Dutch national out of Rs 4.5 crore. The Indian businessman, operating in the transport sector, purportedly sold an airplane to the Dutch national without disclosing its involvement in a financial dispute under investigation by the NCLT. The Dutch national, represented by a spokesperson, asserts that he was unaware of the dispute until the scheduled delivery, when the plane was en route from Rajasthan to Mudra port, where authorities halted the delivery.

The accused apprehended by the EOW, identified as Amit Agarwal, has a history of criminal offences. The FIR, filed by the representative of the Dutch nationals in India on May 8, led to Agarwal's arrest by the EOW team, on Wednesday. According to the FIR, Mitchel Kneefel, the Dutch national and president of Trek Air BV, a company dealing in purchasing old aircraft globally, responded to an advertisement by Agarwal's company, Supreme Transport Organisation Pvt Ltd. Kneefel entered into a deal with Agarwal to sell an aircraft named VT-UDN, which had been involved in an accident in 2018 and was parked at Gangadhar airport in Rajasthan. Kneefel alleges in his complaint to the EOW that he and Agarwal finalised the sale of the aircraft for R4.5 crore, with Agarwal agreeing to cancel the aircraft's registration in India, which he subsequently did.

The complainant reported that after finalising the deal and making the payment, they received an email on 04/05/2023 from Axis Bank's Worli Branch in Mumbai. In the email, it was revealed that Supreme Transport Organisation Pvt Ltd had obtained a credit loan of Rs 12.50 crore from Axis Bank in March 2017 for the purchase of the same aircraft. As of 01/05/2023, an outstanding principal amount of s crore remains. Additionally, a lawsuit has been filed in Mumbai Court for loan recovery, which is still pending. Furthermore, the bank is in the process of confiscating the aircraft from the aggrieved party. Consequently, it has been advised that the transaction related to the purchase of the aircraft would be illegal, and the customs authorities at Mudra airport refused to allow the aircraft to be transported to another country.

The complainant further asserts that, despite paying the agreed amount for the purchase of the plane, the Dutch national did not receive the aircraft. Upon contacting Agarwal, he explained that there were disputes among the company directors, and a case was pending in the NCLT court. Agarwal stated that the aircraft would be provided after the court's verdict.

However, during the aircraft purchase transaction, Agarwal did not disclose any dispute, and he knowingly concealed the ban on the sale of the company's assets related to the ongoing disagreement among the directors. Following which the Dutch national through his legal representative approached the Mumbai police and got the FIR registered with Sahar Police station and matter was transferred to EOW, which arrested him on Wednesday.