Saturday, May 14 2005 17:15 Hrs (IST) - World Time -

Mumbai: Industrialist and art dealer Guru Swarup Shrivastava was today (May 14, 2005) remanded to police custody till May 21 by a local court for allegedly forging documents to remit money abroad through a foreign bank.

The Economic Offence Wing, which arrested Shrivastava, Chairman and Managing Director of Swarup Group of Industries, yesterday (May 13, 2005), told the court that he had allegedly used forged certificates, balance sheet, profit and loss account in standard chartered bank for the purpose of foreign remittance of $ 88,229 to Singapore and $ 45,000 to China.

Shrivastava has been arrested on the charges of forgery and cheating under various sections of the Indian Penal Code. Shrivastava also urged for bail, the magistrate directed the prosecution to file the reply by May 21.

According to EOW, Shrivastava forged the letter head of accountant P S Shetty.

The Public Prosecutor told the court that they required Shrivastava's custody to question him from where he procured the letter head of the complainant and where and how he prepared the accountant's seal.