Dalmia fails to appear before EOW in Indiabulls case

Delhi-based industrialist Sanjay Dalmia failed to appear before the Economic Offences Wing (EOW) of Mumbai police on Monday despite the Bombay High Court asking him to present himself to the investigating authorities in relation to his alleged attempts to dupe Indiabulls Financial Services. Joint commissioner (crime) Rakesh Maria said the police would inform the high court about Dalmia’s absence and follow the court’s directions. A police official, who did not wish to be named, said the investigating agency will move a contempt petition against Dalmia for failing to follow the court orders. The high court last week said that Dalmia would have to appear before EOW from time to time as required by the investigating agency.

Indiabulls had lent Rs 225 crore to seven promoter companies of Mr Dalmia’s flagship firm Golden Tobacco, according to the FIR filed by the Mumbai-based financial service company.

Mr Dalmia was accused of alleged cheating and conspiracy for providing bogus security worth Rs 70 crore for the loan taken. Indiabulls had found that the security was not owned by the borrowers and, hence, the police complaint was filed.