In the row of detecting and tracking the Non-Performing Assets (NPA) files, NewsX continued India’s biggest campaign and opened another case of financial fraud. On the day 6, NewsX opened the case number 9 named against Catmoss Retail Private Limited, registered on 329 Patpargunj, Industrial area, New Delhi. The company was established by Ashwini Chawla in the year 2000. The kids clothing manufacturer claimed 196 stores and 102 franchises that took the loan from several banks and defaulted it.  

In the investigation, NewsX found that Catmoss Retail Pvt. Ltd has taken loans from several banks in the name of the shell companies. Seeking the repayment, Delhi High court has already sealed the registered property of the company and ordered to auction it. The director of the company Ashwini Chawla was out on bail and now he is absconding. The Catmoss Retail Pvt Ltd ran away with a loan of Rs 22 crore taken from State Bank of India (SBI).

Seeking the repayment Delhi High court has already sealed the registered property of the company and ordered to auction it. But when the NewsX traced the Catmoss Retail Pvt Ltd., the reality was different. The property has been sealed for last 4 years, the auction which has to take place 4 years ago, has not happened. The directors of the company ran away with a huge amount. The probe is still on but the Chawla is still out of reach of the officials.  

ALSO READ: NPA files on NewsX: Allied Perfumers Pvt Ltd owes State Bank of Travancore Rs 50 crores

In the biggest campaign of NPA files, NewsX is continuously tracing the money fraudstaers As major impact has been created and Finance ministry has issued a fresh statement, saying all NPA above Rs 50 crores will be scrutinised.

ALSO READ: NPA files on NewsX Day 3, Case 7: Texcomash International Pvt Ltd defaulted Rs 63 crore loan from State Bank of Mysore in 2008, reveals our investigation

 

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