Taxation

Court reserves order on closure report in DDCA funds misappropriation case

A Delhi Court has reserved its order on whether to accept the closure report of the police in a case relating to alleged misappropriation of funds and forgery in the Delhi and District Cricket Association (DDCA) by some of its office bearers. Metropolitan Magistrate Abhilash Malhotra has fixed the matter for pronouncing the order on October 30. There is no evidence on record to suggest any wrongful loss to DDCA by opening this account in Central Bank and also by transfer of the amount from the other bank accounts of DDCA into this account, the closure report said. The FIR had also alleged that after opening the bank account, they had illegally transferred Rs 6.5 crores into the account and got fixed deposits (FDR) worth Rs 4.5 crores.

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