New Delhi (04.01.2022): The Central Bureau of Investigation (CBI) has filed a Chargesheet before Special Judge, CBI cases, Rouse Avenue District Courts, New Delhi against a private company based in Mumbai and others including its then promoter in an ongoing investigation of a case related to bank fraud of approximately Rs 2,435 crore.
A case was registered on 22.06.2021 against the private company and others including its promoter; CEO & MD; ED & CFO; two Independent Directors; CFO, unknown public servants & others. It was alleged that the accused had cheated the consortium of 13 banks, led by State Bank of India, causing fraud of approximately Rs 2,435 crore.
It was also alleged that bank loans were diverted by the accused to its related parties and subsequently adjustment entries were made. It was further alleged that the accused had availed loans against the same securities without disclosing finance taken from other banks and also borrowed funds from the bank by misrepresentation & falsifying of books of accounts, entries & vouchers. The company was into the business of manufacturing electrical equipment.
CBI files charge sheet in a bank fraud case of Rs 2435 cr
By IndianMandarins - 2023-01-04 22:01:00
New Delhi (04.01.2022): The Central Bureau of Investigation (CBI) has filed a Chargesheet before Special Judge, CBI cases, Rouse Avenue District Courts, New Delhi against a private company based in Mumbai and others including its then promoter in an ongoing investigation of a case related to bank fraud of approximately Rs 2,435 crore.
A case was registered on 22.06.2021 against the private company and others including its promoter; CEO & MD; ED & CFO; two Independent Directors; CFO, unknown public servants & others. It was alleged that the accused had cheated the consortium of 13 banks, led by State Bank of India, causing fraud of approximately Rs 2,435 crore.
It was also alleged that bank loans were diverted by the accused to its related parties and subsequently adjustment entries were made. It was further alleged that the accused had availed loans against the same securities without disclosing finance taken from other banks and also borrowed funds from the bank by misrepresentation & falsifying of books of accounts, entries & vouchers. The company was into the business of manufacturing electrical equipment.
