NRI
Patel from California was duped Rs 20 Crore by another
Patel
for investment in his business
Interesting Story
NRI scientist invests in dead factory,
duped of Rs 20 crore
Accused had banned NRI’s entry into factory.
Ahmedabad, April 24
Express News Service
LIKE many NRIs investing in India, this California-based
scientist of Indian origin too invested money in
a dead factory near his native village to be duped
by its owner.
The accused, however, has been arrested on charges
of fraud, cheating and breach of trust.
Dahyabhai Patel, a native of Chadasana village
in Mansa taluka, lives in California for the last
36 years and owns a medical devices manufacturing
firm. According to case details, he was approached
by Chandrakant Manilal Patel, owner of Umiya Pipe
Pvt Ltd — a closed PVC pipe manufacturing unit
in Dhola-Kuva village on Mansa-Gandhinagar
Highway — in May last to invest money in his
dead factory. He said it would not only create employment
opportunities in the region but also provide international
quality pipes at reasonable rate to the local people.
Dahyabhai liked the proposal and agreed to invest
Rs 20 crore. It was decided that 65 per cent of
the total share would be transferred in his name
and that the land surrounding the factory would
also be given to the unit.
Said Dahyabhai: ‘‘When I came back in
January this year, I demanded my share and details
of the minute book of the factory. But Chandrakant
refused to give them to me. I tried to settle the
matter with the help of community leaders to avoid
police interference but in vain.’’
‘‘NRIs would hesitate to invest money
in India, if such things happen,’’ he
added.
Dahyabhai then lodged a complaint with Gandhinagar
Local Crime Branch (LCB) on Sunday, following which
a case of fraud, cheating and breach of trust was
registered against Chandrakant. He was arrested
the same day.
LCB Police Inspector B N Barot said: ‘‘This
is a clear case of fraud and it’s sad the way
an NRI has been cheated.’’
Barot said that the accused had not only held the
charge of the factory but had also banned Dahyabhai’s
entry into the factory.
