Tata Finance Ltd today filed a first information report (FIR) against former managing director Dilip Pendse and five other senior executives with the economic offences wing of the Mumbai Police.
The Tatas filed a complaint of cheating, falsification of accounts, forgery and criminal breach of trust, TFL director Kishore Chaukar told Business Standard. The complaints also relate to causing harmful losses to Tata Finance.
The FIR has been filed under Section 120 D of the Indian Penal Code (IPC) as well as under sections 417, 418 and 464 of IPC.
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The Tatas have alleged that the executives transferred Tata Finance funds to Niskalp, an investment subsidiary of TFL, without any authorisation. These transactions reportedly caused a loss of over Rs 150 crore to the company.
The day-to-day operations of TFL were under the control of Pendse between June 1, 1996 and May 31, 2001.
Earlier, the company had said that the unauthorised financial transactions, recently discovered by the board