DC Design by Dilip Chhabria suspected of cheating on several auto finance companies

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The company of car designer Dilip Chhabria is suspected of having deceived several finance companies by fraudulently obtaining loans, city police said on Tuesday.

The Crime Intelligence Unit (CIU) of the Mumbai criminal branch arrested Chhabria on Monday evening.

The alleged scam came to light when police seized a DC Avanti, a sports car manufactured by Dilip Chhabria Design Pvt Ltd in South Mumbai, after being told its registration number was false.

The owner of the car produced documents which were found to be genuine and showed that it was registered in Chennai. However, another car with the same engine and the same chassis number was found registered in the Haryana, police said in a statement.

A survey found that loans averaged 42 lakh per car was used by Dilip Chhabria Design Pvt Ltd for DC Avantis manufactured by it on behalf of bogus customers, he said.

No less than 120 DC Avanti cars have been sold in India and abroad, and at least 90 of them are said to have been used to obtain loans fraudulently.

The cars were on paper mortgaged to the finance company but have already been sold to customers, investigators said.

Various non-bank financial firms, including BMW Financial Services, have been duped in this way, police said.

The criminal branch is in the process of determining the amount of loan fraud as well as the loss suffered by the government due to tax evasion, officials said.

Chhabria, known for selling custom-designed cars, has been convicted of fraud and forgery, among other charges.

This story was posted from an agency feed with no text editing. Only the title has been changed.

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