New Delhi, 26.12.2020
The Central Bureau of Investigation has registered two separate cases on the allegations of bank fraud to the tune of Rs. 67.07 crore (approx.) and Rs. 64.78 crore (approx.)
The first case was registered on a complaint from State Bank of India against a private company based at Ahemedabad, Gujarat and others including its Directors unknown public servants & unknown others on the allegations of cheating State Bank of India to the tune of Rs. 67.07 crore (approx.). It was further alleged that the company was engaged in manufacturing of cotton yarn, knitted grey fabric and finished garments. It was also alleged that during the period 2011 to 2015, the accused entered into a conspiracy to cheat State Bank of India by way of forgery/falsification of accounts and diversion of funds. The company allegedly availed Fund Based Working Capital (FBWC) with SBI, MCB, Vapi Branch. It was further alleged that only around 20% of its receipts and payments from its debtors & creditors respectively were routed through banking channels, and the remaining amount was siphoned off.
Searches were conducted at 10 places including official & the residential premises of the accused / private company at Silvassa & Mumbai which led to recovery of incriminating documents/articles.
The second case was registered on a complaint from Punjab & Sind Bank against a private company (borrower company) based at New Delhi/Noida and others including its Directors, two other private companies, unknown public servants & others on the allegations that the said accused had cheated the Punjab & Sind Bank to the tune of Rs. 64.78 crore (approx.) by way of diversion / siphoning off bank funds, misappropriation, cheating etc.
Searches were conducted at 09 locations in Delhi / NCR at the office & residential premises of accused including Borrower Company.
Investigation in both the cases is continuing.
