Partner in crime and business: Himanshu Variya, Pragnesh Patel’s business partner, accused of ₹600 cr worth of bank fraud
Variya is registered owner of Tathya Patel’s car
Updated: Jul 22nd, 2023
|on left: Pragnesh Patel, on right: Himanshu Variya
ISKCON bridge car accident has exposed a series of criminal charges and malpractices done by the accused Tathya Patel’s father Pragnesh Patel and his business partner Himanshu Variya in the past.
Updated at July 23, 1 p.m.
Himanshu Variya neck deep submerged in financial frauds
Jaguar owner Himanshu Variya owes various lenders a staggering ₹838.2 cr, which includes ₹600 cr from banks, and ₹238 cr from other various lenders. Variya owes a total of ₹673.5 cr to secured financial creditors including banks, asset reconstruction companies, and non-banking finance companies. Moreover, Variya also owes ₹130.56 cr to government organisations. To recover this towering amount of debt, all of his property is to be auctioned.
Patel and Variya’s game of crimes
There are eight cases of land embezzlement and land fraud registered against Pragnesh Patel and four cases of a ₹452 cr bank scam registered against Variya.
In a CBI search operation, a fraud worth over ₹500 cr was uncovered. Variya, his wife Sejal Variya, and the firm Krish Tech-Con were included in the complaint filed by the CBI.
During the forensic audit of banks, it was noticed that the directors of a private company tampered with the bank accounts and changed loan processes involving bank employees.
Between 2013 and 2017, Variya’s company availed loans, credits, and overdrafts from various banks, as per CBI complaints. The State Bank of India (SBI) also seized and sealed their plant.
Variya is also reported to have attempted suicide in 2020 after constant torture from creditors. Later, Variya was also arrested after a criminal case was filed against him by a Canara Bank subsidiary.
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