BERI ‘Fashionable’ Scam

Navin Beri  is accused of an Economic Offense , which is a fashionable scam for two reasons. The alleged seamster, Navin Beri is the brother of noted designer and the victims of the fraud are related to two noted fashion designers. Four FIRs have been lodged against Navin Beit and in three of which, his sister Ritu Beri is named too in the Mapusa Police Station in Goa. The alleged offense is ‘fashionable’ also because it’s in vogue to defraud public sector banks for loans and in this case Jammu & Kashmir Bank has declared co-accused, Manish Sharma the realtor for whose loan Navin Beri stood gurantor as a ‘Defaulter’ of loan of Rupees 21 Crores.

The fraudulent web of lies spun around by alleged economic offender,  Navin Beri five-years back with his closest friends is gut-wrenchingly sick. Navin Beri and his wife being old friends lured the complainants – Virat Raj Bhalla, Anil Lepps and Monisha Bajaj, TanmitSingh and Mohit Dhar Jayal to invest in the property through their sweet talks and deliberate misrepresentation. On assurances by Navin Beri and Manish Sharma, the complainants booked villas having built up areas of about 399.48 sq. meters, constructed on all that piece and parcel of land admeasuring at about 500 sq. meters. During the course of booking, the complainant was assured by Manish Sharma that he has already obtained all the necessary permissions/licenses/NOC/approvals from the concerned departments/authorities for construction and completion of the project named “Banjara Hills”.

The complainants have paid the total amount/consideration of approx. Rs. 18 Crores. The villas were to be delivered to the four buyers in 2016 bu Navin Beri and Manish Sharma had all kind excuses for the delay. The complainants were absolutely shocked and surprised to read the Public Notice issued by the J&K Bank Ltd. in the newspaper on 4thNovember 2017 informing the public at large of some alleged loan facilities availed by Manish Sharma and also of alleged default committed by him in repayment thereof and that an amount of Rs. 21,05,57,514/- (Twenty-One Crore Five Lakh Fifty-Seven Thousand Five Hundred and Fourteen) allegedly remains due and payable and that the J&K Bank has taken the physical possession of the said villas along with other adjoining properties and the villas constructed thereof which allegedly remains mortgaged with them by Manish Sharma for repayment of said credit facilities.

Most of the loan amount, which was allegedly taken by Manish Sharma for meeting business and personal expenditures of the project named “Banjara Hills”, was siphoned off either directly to accounts of Navin Beri, who stood as guarantor in that loan transaction, or to companies in which Navin Beri held certain position. The project value was grossly overvalued for the purpose of applying and obtaining the loan. That it is pertinent here to mention that out of the loan of 20 crores taken illegally a sums of approx. 10 crores was transferred to the accounts of Ritu Beri through her company Ritu Beri designs and to of her husband Arvind Chadha.

All the above name accused persons have threatened the complainants with dire consequences stating their connections with higher officials in police, senior politicians and international mafia.

Such is life!!!