Fin head invests firm’s Rs 10cr in shares, booked

  • | Sunday | 1st October, 2023

GURGAON: The finance head of a private company in the city was booked on Friday for embezzlement of Rs 10 crore from the companys bank account. The companys co-founder told police that Vineet Bhati has been at the position of head of finance in the company since 2019 and that funds exceeding Rs 10 crore have been misappropriated without proper authorization. Bhati also admitted to the crime in an internal investigation held by the firm. We initiated an internal investigation in July this year when Vineet started taking leave citing medical reasons. He also kept refusing to approve crucial payments of the company, which raised questions in our minds. The investigation revealed a pattern in which money was transferred from the companys bank account to Bhatis personal account, particularly to invest in stocks. This happened from December 2022 to July 2023, during which he also incurred significant losses, the co-founder, also the complainant in this case, said. It was also revealed that Bhati forged the companys financial records before presenting them to the board of directors. Subsequently, Bhati was suspended from his position.An initial complaint was registered on July 11 this year on the state governments online portal. After a preliminary investigation, an FIR was registered against Bhati and unidentified persons on Friday under sections 408 (criminal breach of trust) and 477A (falsification of accounts) of the Indian Penal Code at Civil Lines police station. Assistant sub-inspector Arvind Kumar, who is currently investigating the matter, said, This is a complex case of financial fraud. We have initiated a thorough investigation. Interrogations will also take place with those who are involved in the matter. We have also collected the important evidence that was provided to us, and more evidence would be collected if required. Action will be taken as per the law.We also published the following articles recentlyRajasthan: Former minister Devi Singh Bhati back in BJP after 4 yearsFormer minister Devi Singh Bhati has rejoined the BJP after leaving the party in protest during the 2019 Lok Sabha elections. Bhati had campaigned against Arjun Ram Meghwal, who was chosen as the candidate from Bikaner. Speculation about his return to the party had been circulating for some time. Bhati is known to be close to former CM Vasundhara Raje. He has served as an MLA for seven consecutive terms and lost the election in 2013.Proper investigation will be conducted..., AAP on Sukhpal Khairas detentionCongress MLA Sukhpal Singh Khaira has been detained in connection with a 2015 drugs-related case. Aam Aadmi Party MP Sushil Gupta alleged that Khaira was involved in the drug business and called for a proper investigation. Khairas arrest is expected to strain the relationship between AAP and Congress, who have formed an alliance at the centre. The Congress party has expressed support for Khaira. Khaira was previously associated with a drug smuggling racket and is accused of receiving financial benefits from drug traffickers. In 2023, the Supreme Court quashed the summoning order against Khaira in the drugs case.Investigation on into suicides tied to Canadian who shipped poisonKenneth Law, a cook in Toronto, is accused of shipping toxic salt, sodium nitrite, to suicidal people around the world. Canadian authorities have charged him with helping 14 people die by suicide, but investigations in Canada and Britain may reveal more victims. Law shipped 160 packages to Canada and 272 to Britain. He is being held in jail and will plead not guilty. This case comes as Canada debates its federal assisted suicide law, which has recently been loosened.

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