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Mumbai Police revealed that car designer Dilip Chhabria, Founder of DC Design, has been arrested in DC Avanti car financing and forgery scam of at least ₹40 crore. DC Avanti car scam is major car financing and forgery scam, masterminded by Dilip Chhabria
Police said Chhabria was selling multiple cars with the same engine and chassis numbers. He’s also accused of taking multiple loans on one car and then selling car to a third party.
As reported by India Today, the police said Chhabria bought cars designed by his own company on loans financed by NBFCs and then sold them to third party customers. This is called hypothecation. The crime branch suspects that Dilip Chhabria sold over 90 cars in such a hypothecation manner.