Caught from Lakhimpur Khedi in UP; Got bail on a surety bond of 5 lakhs. Chandigarh police arrested accused in check bounce case latest news

Chandigarh Police has arrested the accused named Ashish Gupta in the check bounce case of Rs 6.79 crore. The team of PO Cell has arrested the accused from Lakhimpur Khedi (UP). The accused was produced before the Chandigarh District Court from where he was granted bail on a surety bond of Rs 5 lakh. Accused Gupta is a partner in Hanuman Beej Bhandar Company in Lakhimpur. Sector 7’s Frontier Agrotech Pvt Ltd company had filed three check bounce cases of Rs 6.79 crore against Gupta and other partners in the court.

According to the case filed, the complainant company had appointed the accused company as the distributor of its products. The accused company had purchased pesticides from the complainant company from time to time, however, did not clear the pending bills.

Gave check but bounced
The accused company owed 6.79 crores to the complainant company. For the payment of which he gave checks to the company. On the other hand, when the complainant company deposited the checks in the account, they bounced. On which the company filed check bounce cases against the distributor company and its partners. In which sections of cheating and criminal conspiracy were also added. He did not appear in the court in this case. On which the court had issued arrest warrants against him. The complainant company entered into a distributor agreement with the accused company in November 2017.