Sunday, September 02, 2018

Luxury car dealers with Rs 270 crore dues held at IGI

Gurugram/New Delhi: Audi and Porsche dealers Rash Pal Singh Todd and Mandhir Singh Todd were arrested from Delhi airport early on Friday while they were waiting to fly out of the country after defaulting on a loan worth Rs 270 crore.

The Todds are British nationals of Indian origin. Their Zenica Group owns Porsche Centre Gurugram, Audi Gurugram, Audi Delhi Central, Audi Approved Plus and Audi Service Gurugram, besides the iZenica chain of Apple showrooms.

Rash Pal is a well-known face on the Delhi-Gurugram Page 3 circuit.

The Delhi Police’s economic offences wing arrested the duo after HDFC Bank filed a complaint of forgery and cheating against them on August 29.
02/09/18 Times of India