SFIO chargesheet sparks summons on 2013 'fraud'
Serious Fraud Investigation Office (SFIO).
Among the 24 individuals and entities listed as accused are Winsome founder Jatin Mehta, who had left the country before the mess surfaced, his wife Sonia and son Suraj, former employees, auditors, and the partner of a Dubai audit firm whose damaging testimony has helped the central agency build its case.
Alleging that Mehta was the «brain and will behind the decisions of Winsome», the SFIO chargesheet (which ET has reviewed) charged the promoter, his family members, five companies, including Winsome, and others of criminal conspiracy to cheat the banks of Rs 4,258 crore, which is punishable under sections pertaining to cheating (420), breach of trust ( 409) read with criminal breach of trust (120(B)) of the IPC. Manipulation of books for carrying out fictitious transactions, related party and irregular derivatives deals ignored by auditors, and unauthorised investment in a group company constitute other charges under the post and amended Companies Act, 2013.
At least two persons have so far received summons from the Surat Metropolitan Magistrate Court, sources confirmed. The court took cognisance of the chargesheet under certain sections of the Companies Act, 2013 and those under the previous Companies Act, 1956 read with certain sections of the Indian Penal Code (IPC). Under the legal parlance, once the court takes cognisance of chargesheet, it sets the stage for a trial.
DUBAI AUDITOR's STATEMENT
The Winsome scam came to light when a 14-member consortium of banks
