Mumbai: The Bombay Bullion Association (BBA) on Saturday expelled Prithviraj Kothari, one of the biggest bullion dealers in India, for allegedly forging documents to lease the BBA basement to his nephew.
Kothari, the owner of Riddhi Siddhi Bullion Ltd, is former president of the association whose term ended in September 2011.
BBA president Mohit Kamboj told TOI, “We have detected a serious case of fraud and filed a formal complaint at LT Marg police station. During his tenure as president of the association, Kothari forged the minutes of the BBA board meeting to lease the basement to his brother’s son. This building is the property of the BBA and we cannot allow any member to misuse his position. The board of directors has unanimously passed a common resolution expelling him from the association. We are publishing a notice in the newspapers as well.”
The new committee that took charge in September 2011 was scrutinizing the records when it came across the fraudulent deal involving the 3,000 sq ft basement of the BBA building in Zaveri Bazar. Kamboj said the association offered Kothari a chance to explain the forgery but he chose not to appear before the committee.
Kothari, meanwhile, will not contest the expulsion. He said the BBA was unwilling to furnish proof of fraud. “The lessee who had occupied the basement is my brother’s adopted son, he is not a blood relative. Why are the authorities taking action months later? In any case, my nephew has surrendered the property peacefully so what is the fuss about?” he said.
An official of LT Marg police station confirmed receiving a complaint.
Courtesy:
Bella Jaisinghani TNN
http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=TOINEW&BaseHref=TOIM/2013/01/14&PageLabel=7&EntityId=Ar00704&ViewMode=HTML
Kothari, the owner of Riddhi Siddhi Bullion Ltd, is former president of the association whose term ended in September 2011.
BBA president Mohit Kamboj told TOI, “We have detected a serious case of fraud and filed a formal complaint at LT Marg police station. During his tenure as president of the association, Kothari forged the minutes of the BBA board meeting to lease the basement to his brother’s son. This building is the property of the BBA and we cannot allow any member to misuse his position. The board of directors has unanimously passed a common resolution expelling him from the association. We are publishing a notice in the newspapers as well.”
The new committee that took charge in September 2011 was scrutinizing the records when it came across the fraudulent deal involving the 3,000 sq ft basement of the BBA building in Zaveri Bazar. Kamboj said the association offered Kothari a chance to explain the forgery but he chose not to appear before the committee.
Kothari, meanwhile, will not contest the expulsion. He said the BBA was unwilling to furnish proof of fraud. “The lessee who had occupied the basement is my brother’s adopted son, he is not a blood relative. Why are the authorities taking action months later? In any case, my nephew has surrendered the property peacefully so what is the fuss about?” he said.
An official of LT Marg police station confirmed receiving a complaint.
Courtesy:
Bella Jaisinghani TNN
http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=TOINEW&BaseHref=TOIM/2013/01/14&PageLabel=7&EntityId=Ar00704&ViewMode=HTML
No comments:
Post a Comment