The case of forgery and default in payment of loans worth Rs 100 crore was filed last month by SE Investment Limited at Hari Parwat police station in Agra.
The chief judicial magistrate (CJM) Khaliquzzama of Agra ordered to raid the house of Sunil Galgotia, the chairman of Galgotia University, in Noida. Obeying orders of the court, cops raided on Tuesday and detained Galgotia’s wife Padmini along with son Dhruv. However, the main accused, Sunil Galgotia, managed to get stay order.
Despite putting heart and soul for seeking bail of Mrs. Galgotia and son Dhruv, none could do so as the CJM had put them under 14 days’ remand.
The registered complaint says that the owners of Shakuntala Education and Welfare Society approached for loans that were sanctioned. But the runner of the institution Sunil Galgotia did not pay installments on time neglecting several reminders for the payment.
The forgery came in notice when it was uncovered that the documents, including balance sheets, submitted for loans were all bogus.
The FIR states that ten loans had been taken by Sunil Galgotia from SE Finance Limited between 2010 to 2011. Adding up all loans ranging from Rs. 80 Lakh to Rs. 37 crore, the debt is calculated worth Rs. 120 crore including interest. The debtor had to settle the loan amount in 24 installments but only few installments were paid and thereafter, installments were stopped, informed SSP Shalabh Mathur.
Despite dispatching of several notices to the society, no response was given in context of payment.
“As per the company’s declaration, the Galgotias have to pay a sum of Rs 120 crore to the SE Investment Company. This includes interest on the huge sum as well,” the SSP unveiled.
Now, non-bailable warrant has been issued for arresting the defaulter Sunil Galgotia, his mother Jugnu, wife Padmini and son Dhruv.
“At the time of taking the loan, the Shakuntala Education and Welfare Society presented fake documents. They claimed that Galgotia University was part of Shakuntala Education and Welfare Society, but in the Delhi high court, they claimed that the varsity was a different organization. We also came to know about various irregularities committed by the Galgotias, including embezzlement. That is when we decided to file the case against Sunil Galgotia,” Sunil Agarwal, the managing director of SE Investment Ltd., said.
So far, Padmini Galgotia has said nothing in comment over the matter while Sunil Galgotia managed to stay away from the media as well.