Tribune News Service
Jalandhar, July 7
Levelling allegations against SAD ex-minister Sarwan Singh Phillaur and his son Damanvir Phillaur, a UK-based NRI has said the duo had committed a fraud of Rs 9.1 crore with him and two other NRIs in a commercial project on the Jalandhar-Phagwara stretch of the National Highway No. 1, the work of which is lying halted for the past many years.
NRI Nirmal Singh Bajwa of Dyalpur village in Phillaur has forwarded his application to Deputy Chief Minister Sukhbir Badal, writing that he is an NRI businessman settled in the UK and came into contact with the ex-minister during his visit there.
Sarwan Singh Phillaur made false promises to lure me and others to invest in their upcoming multiplex project in Punjab-Grand Multiplex Projects Ltd, whose director was his son Damanvir Singh. They floated a public limited company for the purpose of the construction of a multiplex, shopping mall etc, he narrated.
Bajwa added that while he had invested Rs 4.5 crore, other two NRIs AS Toor and Shaminder Singh Dhaliwal pooled Rs 3.35 crore and Rs 1.25 crore, respectively.
Bajwa has alleged, The Phillaur father-son duo, who were in control of the management of the company, allotted 10.03 lakh equity shares of Rs 10 aggregating to Rs 1 crore to the applicant group againstour investment and misappropriated the rest of the money by falsifying accounts of the company to show it as the share application money or unsecured loans. They falsely assured us to allot further shares after seeking the necessary approvals, but eventually did not allot the same for reasons best known to them.
He further alleged that no company meetings were ever called and appointments and removal of directors were made on the basis of the forged documents of the company. He has sought registration of a case against them under Sections 406, 420, 467, 468 and 471 of the IPC.
Damanvir Phillaur, on the other hand, has countered all these allegations, saying the entire episode was politically motivated to tarnish his and his fathers image ahead of the elections. The man had gone to court and withdrawn his complaint earlier. Why is he raking up the issue seven years later now?