<h1>Businessman Arrested for Rs 5.05 Crore Fraud and Loan Default; Misused Funds for Personal Gains.</h1> The Economic Offences Wing of the Delhi Police has arrested a businessman for defrauding a non-banking financial company of Rs 5.05 crore. The accused, a director of a private company, obtained the loan in 2020 by falsely claiming a property in east Delhi was unencumbered, despite five flats being sold to a bank in 2005. After securing the loan, he and co-borrowers defaulted on payments, and he misused Rs 1.7 crore for personal purposes. The businessman, involved in multiple companies facing financial distress and tax evasion allegations, is under further investigation.