Following the arrest of India's top sports car designer Dilip Chhabria, the Mumbai Crime Branch on Tuesday said that he was a part of one of the biggest pan-India sports car finance and forgery scam, where he was involved in multiple registrations for cars he manufactured and obtained multiple loans from Non-Banking Finances Companies (NBFCs) on the same cars used fake documents.

The Crime Branch has estimated the fraud to be worth Rs 40 crore. The value could go up to Rs 100 crore and more. Milind Bharambe, Joint Commissioner of Police (Crime) said on Tuesday, "Chhabria availed multiple loans averaging around Rs 42 lakh on a single car worth around Rs 60 lakh. The cars would be designed by Dilip Chhabria Designs Pvt Ltd and bought by the company itself using loans from NBFCs. The cars would also be sold to real customers. There are multiple registrations of cars on the same chassis and engine number."