<!– /11440465/Dna_Article_Middle_300x250_BTF –>The Economic Offences Wing (EOW) of the Delhi Police on Wednesday arrested a man for selling his mortgaged property in the Prithviraj Road area of Lutyens zone. The accused, Manjit Singh, is reportedly a former director of the Ranbaxy firm. A Delhi court then sent Singh to 14-day judicial custody.Senior EOW officers confirmed Singh’s arrest.According to the police, a house on the Prithivraj Road was sold to businessman Ashok Gupta last year. The deal was closed at Rs 245 crore, of which Rs 4.5 crore was paid. But, Gupta was later told that the house had been mortgaged for a loan. So, he approached Singh and asked him to return his money, but the latter refused. Gupta then approached the police and registered a case.Singh was served several notices by the EOW, but he never joined the probe. The police then arrested him and produced him before the court. The Delhi police had sought his custody on the grounds that he was not co-operating in the investigation and not providing details of the property in question.Chief Metropolitan Magistrate Deepak Sehrawat, however, sent the accused in to judicial custody. His bail application will be heard at 2 pm on Thursday. Further investigation is underway.BACKGROUNDA house on the Prithivraj Road was sold to businessman Ashok Gupta last year. The deal was closed at Rs 245 crore, of which Rs 4.5 crore was paid. But, Gupta was later told that the house had been mortgaged for a loan.
So, he approached Singh and asked him to return his money, but the latter refused. Gupta then registered a case.

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Ranbaxy ex-director held for property fraud