Vigilance nabs director of Golden Projects

Chandigarh November 19

The Vigilance Bureau (VB) has arrested Vinod Mahajan, one of the accused directors of Golden Projects Private Limited, Jharmari, Dera Bassi, who had been absconding since 2002.

Disclosing this here today, a VB spokesperson said the non-banking financial entity was registered as a firm with the government in 1996 by four directors — Rakesh Kant Syal, his wife Bimla Syal, Rumila Sinha and Vinod Mahajan.

He said these directors had purchased 530 acres of agricultural land at Nurpur Bedi tehsil, Ropar, by misleading the investors regarding providing them ownership of the land. In addition to this, the accused had assured the investors of good returns in lieu of money collected from them.

The spokesperson said a case under the IPC and the Prevention of Corruption Act had been registered at the VB police station against the four directors of the company.

He said Mahajan had been declared a proclaimed offender by a competent court in 2002.