copy of letter dated 26-5-05 to J M Chaudhary

copy of letter to J M CHAUDHARY


Pankaj S Mody
Janmangal Flat
40 Brhaman Mitra Manda Society
Ahmedabad 380 006

26-05-2005


The Police Inpsector ,
Anti Economic Offence Wing
Meghaninagar , Ahmeedabad

Respected Sir,

For the Kind attention of Shri J M Chaudhary

Subject :- In connection of Banking fraud pertaining to GTB in relation to my email to the Honorable Chief Minister of Gujarat from time to time.
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This is in connnection with the interrgation on 25-5-2005 at short notice with constraisnt of time and my inability to respond and explain all the points on account of constrainst of time .

To faciltiate invesztigation , I am furnishing some priame facie pointers which lead to fraudulent creation of charge of Rs 12.5 crores in light of infroamtion as under:-

(a) That GTB has failed to furnish documetnarty evidence as to how Mr. Jatin Jalundhwala and Mr. Ameet Sesai continue as directors pf Rupmanglam Investment Private Ltd after EXPIRY OF TERM AS ADDITIONAL DIRECTOR .GTB has failed to furnish any search reprot from ROC that the additional directorship of Jalundhwala and Desai stands renewed with written consent of Mody family directors and GTB management cannot plead ignorance that they do not know about such basic understanding while sanctioning facility.

(b) The copy of title deed register furnished to the court commisssioner and the memorandum of entry furnished to the undersigned does not reflect any supporting doucmentary evidence that Mody family members have CEASED TO be directors of Rupmnglam Investment Pvt Ltd.

(c) The copy of title deeds registar and Memrandum of Entry furnished by GTB does not reflect ANY supporting evidence that Jatin Jalundhwala and Ameet Desai are SOLE, EXCLUSIVE directors of Rupmanglam Invewstment Pvt Ltd.

(d) That GTB has failed to include certificate from the auditors of Rupmanglam (Kashipraekhs ) that Ameet Desai and Jatin Jalundhwala are the SOLE Directors of Rupmanglam to create charge on immoveable property of Rupmanglam.

(e) That GTB has failed to furnish their internal appraisal report showing documentary evidence that Dhanyusha Financial , Jalundhwala and Core Health Care has received written confirmation from the ESCROW PERSONS CONSISTING OF Soparkar and Kashiparekh (as referred in the MOU ) that they have officially have handed over simultaneously all the documents as well as physical possession after obtaining no objection certificate from various mody family members including Pankaj Mody.

(f) That GTB has failed to obtain concurrence from the auditors of Rupmangalam that Jalundhwala has all necessary authority and power to create charge on behalf of Legal shareholders and legal directors of Rupmangalam Investment Pvt ltd and such concurrence is not reflected in the tittle deeds register furnished by GTB to the court commissioner and the same is not reflected in copy of memorandum of entry furnished to Pankaj Mody .

(g) That GTB has failed to show any docuemtnary evidence in title deeds registar as well as Memorandum of entry that the stay of Revenue department has been lifted.

(h) That GTB has failed to depost original sale document in favour of Shri Parbhulal Bhikhabhai Shah with the authorities while creating charge of Rupmangalm and Flovin.

(i) That GTB at the time of creation of charge has failed to adduce (i) sale deed document between Rupmnaglam and Dhanyuhsya that constructed portion of bunglow exclusively belonging to Rupmangalm has been sold to Dhanyushya (ii) sale deed document between Rupmanglam and Flovin that constructed portion of bunglow exclusively belonging to Rupmangalm has been sold to Flovin.

(j) That GTB has failed to furnish documentary evidence that GTB HAS thorougly and minutely verified own their own that Span Meidcals is the sole and exclusive legal owners of Final Plot 768/10 instead of blindly believing on any certificates.

(k) That GTB has failed to give any reasoing as why the sanction of lona was enhanced from Rs 11 crores to Rs 12.5 crores within six months.

(l) That GTB has failed to give reasons as to why they chose to give loan to Core Healthcare especially when the balance sheet of Core Health care depicted that one another bank had filed case agaisn t Core health care and the Core health care was already facing liquidity problenms.

(m) That GTB has failed to give any explantion as to the reason why they wanted to extend facility to Core Healthcare with support of Jalundhwala when Core Healthc are extended approximately Rs 39 crores non-interst bearing loan to its subsidiary Technology Fiannce with Jalundhwala as its director .

(n) That GTB and OBC has failed to prove the legality of creation of charge by compelling Core healthcare and Jalundhwala and GTB officals to adduce necessary evidence in the criminal defamation case 3326/99 in light of correspondence from time to time.

(o) That GTB has not furnished detailed internal findings and written statements in light of letter addressed to them on 24-7-99

The additional details of banking fraud can be revealed once they give documenary evidences as well as reply to various letters and emails from time to time to GTB .

I shall refer additional issues in a separte correspondence .

Thanking You.

Yours most respectfully,


Pankaj S Mody