A former chairman of World Window India Impex has been arrested for allegedly embezzling funds worth Rs 30 crore and deceiving company authorities, police said on Wednesday. Defendant Ajay Khera worked as executive director of Central Warehousing Corporation and he voluntarily retired to become chairman of World Window India Impex – a Seagull Maritime Agencies group company, they said.
An investigation has been opened by the Economic Crimes Wing of the Delhi Police after Shipping Agencies Director Seagull filed a complaint against Khera, police said. The company deals in freight forwarding business in India.
Ravindra Singh Yadav, Special Commissioner of Police (Crime), said: “In 2010, Seagull opened a branch in the United States. The defendant (ex-employee of Group Company) who worked with the company as a legal consultant, asked the ex-promoters of Seagull to employ his son (Siddharth Khera) to take care of the American subsidiary of Seagull . As a result, Siddharth Khera has been appointed head of business development for Seagull’s US subsidiary. Seagull ran his business smoothly. However, it has been noticed that Seagull’s annual revenue has steadily declined from the highs of 2018 to the severe lows of July 2021. ‘The officer said while analyzing the reason, it was revealed that the defendants had incorporated two companies named Azure Freight and Logistics LLP (November 2020) and Azure International LLC (June 2020) and started side business taking Seagull’s customer base through misrepresentation and tampering.
Further investigation into the case revealed that Khera and his son forged invoices and funneled payments to their businesses, he said.
In resigning, the defendants also replaced the original hard drives of their computers. By using this modus operandi, they caused an unjustified loss of Rs 30 crore or more to the plaintiff company and an unjustified gain to themselves, the officer added.
During the investigation, documents and other information were analyzed. Police discovered that the defendants had embezzled a huge amount of money from their business accounts, he said.
According to the police, a team was sent to arrest Khera who lived in Mayur Vihar.
Police said he was the executive director of the CWC and had retired voluntarily. He then joined the complainant’s company as a manager. Her son has not yet been arrested, they said.
Police said they were investigating the matter as they suspected the father-son duo were working in collusion with some Seagull officials.
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