Ex-MD of Tata Finance Pendse arrested in alleged funds transfer

By Our Corporate Bureau | 26 Feb 2003

1
New Delhi: The Delhi police have arrested former managing director of Tata Finance (TFL) D S Pendse here for his alleged involvement in “misappropriation” of at least Rs 2 crore of the company’s funds.

The Delhi High Court rejected Pendse’s application for an anticipatory bail. Dinesh Bhatt, deputy commissioner of police (economic offences wing of the crime branch), said Pendse was nabbed at Tilak Marg, near Patiala House courts, at around noon on 25 February. “Pendse has been approaching different courts for reprieve and his arrest came after prolonged surveillance.”

The crime branch had registered a case and initiated investigations against him in September 2002 following a complaint that he had “siphoned off''” funds worth Rs 2 crore from TFL during his tenure as its managing director.

 

Business History Videos

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more