Former MD of Gujarat Mercantile Co-operative Bank Purvesh Parikh is accused of defrauding an industrialist of Rs.1.32 crores.
Tulshibhai Vasani, 35, who lives in Taxila Society near Nicole’s Jeevanwadi, runs a business in the name of Janki creation in Odhav. His brother Sagarbhai Vasani runs the iron business in the name of Vasani Industries in Ramol. In August 2019, Tulshibhai’s brother Sagarbhai and Rajesh J Patel who is working in Jay Engineering Odhav contacted Gujarat Mercantile Co. in Panchali Apartment near Cadila Laboratory to obtain a Cash credit loan of 10 lakhs.
Rajeshbhai met Hiren and Tejas Patel, present in the bank. They opened a current account by giving all the documents to the bank’s MD and Manager Purvesh Parikh. It is accused that Hiren, Tejas Patel and Purvesh Parikh conspired to take a loan of 45 lakh in the name of Vasani Industries and use it for personal expenses. Apart from this, another customer, Hareshar Bhai Gajjar was duped too, on the pretext of getting a loan of 42 lakhs.
The businessman had opened his and his sister-in-law’s current account in this bank as advised by former MD Purvesh Parikh in order to obtain a loan of 10 lakhs. However, misusing the account and using his false signatures, Purvesh Parikh and his associates took the loan.
The businessman was told that his loan is not approved for some reason. When he received a message that 45-45 lakh rupees were deposited in his account, he was told that it might be a mistake.
It was only after receiving a notice from the bank that the customer approached the bank t know the truth.