DJB contractor arrested on fraud charge

Staff Reporter

Alleged fraudulent transactions

NEW DELHI. The Managing Director of Kavary Consultants Limited, Vijay Kataria, an influential contractor whose company is engaged in executing various important projects for the Delhi Jal Board, was on Saturday arrested by the police for allegedly engaging in fraudulent bank transactions by forging signatures, stealing cheques and withdrawing huge amounts with connivance of bank authorities. The complaint had been filed by Environment Overseas Limited with the Malviya Nagar police station here on February 9.

According to the police ,Mr. Kataria was arrested and charged under Sections 380, 406, 420, 468 and 471 of the Indian Penal Code. The Punjab National Bank, Sheikh Sarai, has also been accused of conniving with Mr. Kataria to perpetuate this fraud. Mr. Kataria has been charged with having stolen cheques from the office of Environment Overseas Limited and having cashed them by opening a fraud account in the bank with the help of bank officials whose role is also being probed.

During investigations it was purportedly found that Mr. Kataria deposited a cheque for Rs. 70 lakhs with the bank on February 2. Another cheque for Rs. 1.40 crores was also fraudulently transferred to Mr. Kataria's account with forged signatures.

After investigations were launched into the case, the accused moved the court for anticipatory bail but was refused. Not only this, Mr. Kataria upon realising his blunder tried to re-deposit the cheques in the bank account of the original company but was caught before he could carry out the whole transaction.

According to B. L. Bhatia (Director Finance), Envirotech Overseas Limited, his company had at no point of time had any dealings with Mr. Kataria or his company in the Delhi Jal Board.