CBI REGISTERS A CASE AGAINST A PRIVATE COMPANY AND ITS DIRECTORS FOR CAUSING ALLEGED LOSS OF RS.819.48 CRORE(APPROX) AND CONDUCTS SEARCHES


 

Press Release
New Delhi, 23.01.2020

The Central Bureau of Investigation has registered a case against a private company based at Saket, New Delhi; its Directors; unknown Public Servants and others u/s 120-B r/w 420, 468 & 471 of IPC and u/s 13(2) r/w 13(1)(d) of PC Act, 1988 (as amended in 2018) on the complaint from State Bank of India on behalf of a consortium of banks. It was alleged that the said company availed credit facilities to the tune of Rs.732 crore(approx) and cheated the complainant bank and other consortium banks by way of forgery & using forged documents as genuine. An alleged loss of Rs.819.48 crore(approx) as on 01.04.2018 was caused to the banks. The consortium banks consisted of 10 banks namely State Bank of India, Indian Overseas Bank, Oriental Bank of Commerce, Exim Bank, Bank of India, IDBI Bank, Bank of Maharashtra, CSB Bank, Vijaya Bank (now Bank of Baroda) & UCO Bank.

Searches have been conducted today at the residence of the accused in Delhi which led to recovery of incriminating documents.

Investigation is continuing.

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