40 Chinese nationals booked for fraudulently becoming directors of Indian firms

Mumbai, April 20: Mumbai Police has booked 40 Chinese nationals for allegedly violating provisions of the Companies Act and fraudulently becoming the directors of Indian companies.

 

 

Reports suggest that the Economic Offences Wing (EOW) of the Mumbai Police has registered 34 FIRs against 150 individuals, including 40 Chinese nationals and 20 persons of other nationalities. Among the 60 foreigners against whom the cases are filed, 40 are from China and the rest from Singapore, the UK, Taiwan, the USA, Cyprus, the UAE, and South Korea.

 

 

Apart from section 447 (fraud) of the Companies Act, FIRs have also been registered under relevant sections of the Indian Penal Code (IPC), including cheating, criminal conspiracy and criminal breach of trust. The complaint in the matter was filed by the Registrar of Companies (ROC). As per the complaints filed by the ROC, Mumbai, the foreign nationals became directors and owners in Indian incorporated companies fraudulently.

 

The complaints were registered at the Marine Drive police station. A preliminary probe has revealed that the accused had given false statements to the ROC. Media reports also suggest that more than 30 Chartered Accountants (CA), 30 Company Secretaries (CS) and directors of companies have been named in the FIRs.