The chargesheet further alleges that IL&FS Securities Services (ISSL) also failed to do adequate due diligence about the huge amount of the collaterals (MF units) given by Allied Financial (AFSPL). “ISSL, in violation of the rules of the Securities and Exchange Board of India (Sebi), did serious financial irregularities in a transaction with AFSPL,” says the nearly 60-page chargesheet, a copy of which ET reviewed. “Forensic auditor Grant Thornton has highlighted the serious financial irregularities done by ISSL.”
In a chargesheet filed by the EOW in the Chief Metropolitan Magistrate court in Karkardooma in Delhi on Monday, the police said it found evidence of alteration and uploading wrong credentials with the NSDL system and transferring of MF units of Dalmia Cement) through forged signatures of the authorised signatories. “He (Mishra) sent false and fabricated statements of the OCL and Dalmia Cement to the complainant through email to make the complainant believe that the MF units of the complainant are intact,” says the charge sheet. The charge sheet also indicated that V Hansprakash, head of business development at ISSL, also played a role in it.
Emails to IL&FS, a parent of ISSL and Allied Financial, remained unanswered till press time.
“We have always said that our securities were fraudulently transferred and misappropriated. We are hoping for a speedy release of theY securities that lawfully belong to us,” said Dalmia Bharat spokesperson.
“We also hope that the people who have committed this crime are brought to justice,” he further added.
In August, EOW initiated a probe into alleged involvement of IL&FS Securities in a fraud committed by brokerage firm AFSPL. Around the same time, the police arrested Awanish Mishra on the basis of an FIR filed by Dalmia Cement for illegally transferring the company’s financial securities worth Rs 344 crore.