Meat exporter’s Dir nabbed for fraudulent sale of mortgaged property

 ECONOMIC OFFENCES WING,DELHI

Meat exporter’s Dir nabbed for fraudulent sale of mortgaged property

SYED WAJID
sufijourno@gmail.com

The Economic Offences Wing (EOW) of the Delhi Police has arrested Moshin Mohammed, 36 years, for allegedly orchestrating the fraudulent sale of a property mortgaged with Yes Bank Ltd. The accused, a former director of M.K. Overseas Pvt. Ltd., one of the largest meat exporters of its time, is suspected of misappropriating crores of rupees through deceitful transactions.

According to police officials, M.K. Overseas Pvt. Ltd. had obtained credit facilities worth rupees 95 crore from Yes Bank in 2016 by mortgaging a property located at 19C, Ansari Road, Daryaganj, Delhi. Between March 2018 and May 2019, the accused allegedly constructed multiple flats on the mortgaged land and sold them to unsuspecting homebuyers without revealing that the property was encumbered. Through this fraudulent sale, he reportedly collected rupees 13 crore.

Investigations further revealed that the accused had opened an account in a cooperative bank and withdrew over rupees 3.33 crore from it for personal use. Authorities stated that he had been evading arrest, frequently changing mobile numbers, and procuring SIM cards under false identities. Based on technical surveillance, a raid was conducted at a hotel in Nizamuddin (West), leading to his arrest on March 26, 2025.

During interrogation, the accused allegedly admitted to siphoning company funds for personal benefit. Police sources indicate that he may be linked to additional financial fraud cases, and further investigations are underway to trace other involved individuals and the money trail.

Mohammed, a matriculate, is reportedly implicated in multiple financial fraud cases. Apart from the present case (FIR No. 154/2021, PS EOW), he is also named in FIR No. 98/2022 (PS EOW) and is under investigation by the Enforcement Directorate (ED). Furthermore, two cases are being probed against him in Gautam Buddh Nagar, Uttar Pradesh.

Police officials disclosed that the directors of M.K. Overseas Pvt. Ltd. had availed loans amounting to approximately Rs 300 crore from various banks by mortgaging multiple properties. However, as the company faced financial distress, the accused allegedly resorted to fraudulent methods to siphon funds instead of repaying the loans.

Speaking about the case, Additional Commissioner of Police (EOW) Amrutha Guguloth stated, “Banks hold vast sums of public money and must exercise rigorous due diligence while sanctioning loans and monitoring mortgaged properties. Failure to do so can lead to fraudulent asset depletion, putting public funds at risk.”

Authorities continue their probe to uncover further fraudulent activities linked to the accused and potential accomplices. Meanwhile, legal proceedings against Moshin Mohammed are expected to progress swiftly.