CBI Registers a Case Against Private Company and Others for Causing an Alleged Loss of Rs.2435 Crore (Approx.) To Banks, And Conducts Searches
(Judicial Quest News Network)
The Central Bureau of Investigation has registered a case on a complaint from State Bank of India against private company based at Mumbai and others including its then CEO, then CFO, then directors & unknown persons, bank officials for causing an alleged loss of Rs.2435 crore (approx.) to State Bank of India and other consortium member banks.
It was alleged that the said accused had cheated the SBI and other consortium member banks including Bank of Maharashtra, Axis bank, Yes Bank, Corporation Bank, Barclays Bank, IndusInd Bank etc. by way of diversion of bank funds; sham transactions with related parties; borrowing funds from the Bank by misrepresentation; falsifying/fabricating books of accounts, entries, vouchers & financial statements; furnishing false, incorrect or misleading information; siphoning off funds including various loan proceeds. The allegations were based on forensic audit report.
Searches are being conducted today at the premises of the accused including said private company at Mumbai, Delhi and Gurugram.
