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Showing contexts for: transferable LC in State vs Sumeet Suri on 25 September, 2025Matching Fragments
(iii) Siphoning off money in respect of order placed to ICPL from M/s Alfaisaliah Commercial Limited by raising letter of credit in the name of personal company of accused M/s Anjjane Clothing Pvt. Ltd.
86. Another allegation of alleged misappropriation of funds, made by the complainant was with regard to order placed to ICPL from M/s Alfaisaliah Commercial Co. Ltd. and later sending the shipment of the same in the name of M/s Anjjane Clothing Pvt. Ltd. In respect of such allegations, PW1 in his deposition has testified that accused Sumeet Suri transferred a LC of USD 89932 from M/s Ivory Clothing Pvt. Ltd. to ______________________________________________________________________ SHELENDER MALIK MALIK Date:
2025.09.25 16:56:29 +0530 Anjjane Clothing, without any board resolution. Witness states that the order was placed to Ivory Clothing and all expenses were done by Ivory Clothing but accused in his capacity as Director of ICPL got the LC transferred to Anjjane Clothing Pvt. Ltd. and received all the proceeds of his crime. Similar is the evidence of PW12 Ashok Parmar and PW19 Rahul Sharma on this aspect and has already been discussed above.