CBI REGISTERS A CASE AGAINST A PRIVATE COMPANY ; ITS THREE DIRECTORS AND OTHERS FOR CAUSING AN ALLEGED LOSS OF RS.173.11 CRORE(APPROX) TO SBI


 

Press Release
New Delhi, 01.05.2020

The Central Bureau of Investigation has registered a case on u/s 120-B r/w 420, 468, 471 and 406 of IPC and section 13(2) r/w 13(1)(d) of PC Act, 1988 on a complaint received from State Bank of India against a private company having registered office at Rohini, New Delhi & its three Directors and others including unknown public servants.

It was alleged that the said accused had cheated the SBI, Karnal Branch and caused loss to Bank to the tune Rs 173.11 Crore(Approx) by way of unauthorized removal of Plant & Machinery from the factory premises which were hypothecated to the bank, showing disbursement of loan from the bank as capital infusion via circular movement of fund transfers, availing EPC disbursements against same security/ proforma invoices, submission of fake proforma invoices and showing non-existent entities as debtors.

Investigation is continuing.

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