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Police seize documents from Pendse's house

The Economic Offences Wing has taken into possession several documents and records from the house of the former Tata Finance Limited's managing director, Dilip S Pendse, according to Manoj Lohiya, deputy commissioner of police.

Refusing to term the recovery of documents as 'searches' or 'raids', Lohiya said papers, relating to Pendse's bank accounts, property matter, passports were taken from his house over the weekend in connection with allegations relating to misusing his position and breach of trust while granting inter-corporate deposits to Nishkalp Finance , an ex-subsidiary of Tata Finance Ltd.

The officers were still in the process of recovering other documents, Lohiya said in Bombay on Monday.

Pendse has been accused of cheating, falsification of accounts, forgery and criminal breach of trust in the first information report filed by the EOW based on a complaint by Tata Finance, he said.

Pendse has also been accused of failure to follow the prudential norms laid down by the Reserve Bank of India.

Similar documents were also recovered from the houses of the other co-accused.

TFL had last week filed a complaint against six officials, including Pendse, who was sacked last month, following discovery of unauthorised transactions leading to substantial losses to the company.

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