Chandigarh agent held for duping NRI of Rs 3.5 cr shares

Chandigarh, June 6

A man has been arrested for duping an NRI woman of shares worth Rs 3.50 crore.

According to the police, Parvinder Kaur Bhatia, a UK-based NRI, had alleged that after her husband’s demise, she had visited India and approached M/s Competent Finman Pvt Ltd in Sector 34 to transfer his shares in her name. The complainant opened a demat and a trading account with the firm to dematerialise all shares and credit them in her account.

It was alleged that Parveen Kumar Bhardwaj, an officer in the depository section of the firm and an agent of Integrated Master Securities Ltd, obtained her signature on various papers, took the special power of attorney of the complainant and transferred the shares in the name of his mother and other unidentified persons. The accused allegedly made unauthorised share transactions for his personal benefit, the police said.

A cheating case was registered at the Sector 34 police station in July 2022. The police said Parveen was arrested on Wednesday. Further investigation in the matter was underway, they added.