Here’s What Dilip Chhabria Has to Say About the DC Avanti Scam: Back in December 2020, ace designer Dilip Chhabria, the owner of car modification studio ‘DC Design’ (DC2) was booked by the Criminal Intelligence Unit (CIU) under sections 420, 465, 467, 468, 471, 120 (B) and 34 of the Indian Penal Code (IPC). He was arrested on December 28, 2020, by the CIU branch of Mumbai. The police also seized his high-end car that is linked to the case.
Dilip Chhabria was recently released on bail after being under arrest for almost four months on multiple criminal charges. He has now released a statement in an attempt to explain his side of the story. He blames a conspiracy by some of his partners and the authorities behind the DC Avanti Scam.
In his official statement, Chhabria blamed his ex-partner and co-investor in DC Designs Pvt. Ltd. (DCDPL), namely Mr Kiran Mulchand, who had a 52% controlling share in the company. Chhabria further revealed that Mulchand had assured investment of INR 150 crores in the said company to help the brand manufacture sports cars.
“Mr Kiran Mulchand, after acquiring the position of Director in DCDPL, sold four Avanti cars to himself in 2016 under the supervision of erstwhile CFO Mr Afaq Sayeed, whom he appointed. Thereafter, the CFO, under the instructions of Kiran Mulchand, hypothecated these four cars to an NBFC, along with some other cars of DCDPL,” added Dilip Chhabria. He claims that all this was done because Kiran Mulchand intended to break his promise of investing INR 150 crores and use the dual hypothecation as leverage.
Later, when DC Design had to go into an Insolvency Resolution Process (IRP) due to several instances of mismanagement, Dilip Chhabria realised that Mulchand had no intentions of saving the company and he cheated on him. So he filed a criminal case with the Mumbai Police against Mulchand and his assistant Mr Inder Ramani.
“Inder Ramani and his company A.K. Associates, being the purchase agents of DCDPL, failed miserably in adhering to supplies of components per purchase order terms, causing a massive pile-up of incomplete cars inventory, apart from customer ire and brand fogging, thus losing Rs 26 crore in 4 months,” added Dilip Chhabria.
Thereafter, the designer claims that Mulchand and Ramani approached Mr Sachin Waze of Mumbai Police, who in cooperation with these people made a fake story of a dual hypothecation DC Avanti Scam of more than INR 100 crore.
To jog your memory, Waze, who is an Assistant Police Inspector (API), has already been in the news for his alleged involvement in a lot of other cases like the bomb scare outside Mukesh Ambani’s residence, as well as bribery by BARC (Broadcast Audience Research Council) officials. Dilip Chhabria also revealed that ex-Mumbai Police Commissioner, Param Bir Singh, is also part of the conspiracy.
Dilip Chhabria further revealed that Sachin Waze also demanded extortion money from him and his fellow API Riyaz Kazi demanded INR 10-25 crores, which was negotiated again and again. The truth of all of Chhabria’s claims will be tested in court, where proceedings of the cases against him are pending. We will be posting further updates on our blog soon after the court trials. Watch this space!
Update Source: Autocar India
