Delhi Saket Court has recently initiated the proceedings of declaration of a proclaimed offender against Achal Kumar Jindal, Executive Director of Exclusive Capital Ltd. (an NBFC), in a multi-crore fraud case
The case being dealt by the Delhi district court was registered by the Delhi Police’s Economic Offences Wing under sections 420 (Cheating), 409 (Criminal Breach of Trust by Public Servant) and 120B (Criminal Conspiracy) of the Indian Penal Code
The FIR was lodged on the complaint of Suresh Agarwala and Kanta Agarwala, shareholders of Exclusive Capital Ltd., alleging siphoning and diversion of company funds by the management including Achal Kumar Jindal, S.P. Bagla and K.A. Johnson, resulting in erosion of shareholder value.
The court noted that NBWs issued against Jindal have returned unexecuted. It further also took note of the fact the family of who were found at the address refused to disclose the whereabouts of Jindal.
“From the report it appears that the accused is trying to avoid execution of warrants”, the court observed.
The court also took note of the fact that Jindal had approached the Delhi High Court for cancellation of the NBWs issued against him. However, the constitutional court had dismissed his plea.
”Issue process u/s 84 BNSS against the accused Achal Kumar Jindal, through IO concerned, returnable on 06.05.2026. Publication of proclamation in national newspaper be also effected in the leading newspapers before NDOH. Process must be executed atleast 30 days before the next date of hearing”, the court directed.
Additionally, another accused in the case S. P. Bagla, Managing Director of the NBFC and K. A. Johnson, CFO of the company, are presently under judicial custody.
