Dynamite News CBI conducts searches in a Bank fraud case relating to 398 Crore
CBI has registered a case against a private company and others including its Directors, Guarantors, other private companies based at Delhi and Sonipat for causing an alleged loss of 398 crore to State Bank of India and Punjab National Bank. Dynamite News exclusive:
New Delhi: The Central Bureau of Investigation has registered a case on a complaint from State Bank of India against a Delhi based private company (Borrower company) and others including its Directors, Guarantors, other private companies based at Delhi and Sonipat, and other unknown persons for causing an alleged loss of Rs. 398.35 crore to State Bank of India and Punjab National Bank.
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#BANK_FRAUD_CASE CBI registered a case against a private company and others including its Directors, Guarantors, other private companies based at Delhi and Sonipat for causing an alleged loss of 398 crore to State Bank of India and Punjab National Bank @DynamiteNews_
— Manoj TibrewalAakash (@Manoj_Tibrewal) June 18, 2020
It was alleged in the complaint that the said accused had cheated the State Bank of India (erstwhile State Bank of Patiala) led consortium comprising SBI (lead bank) and PNB to the tune of Rs. 398.35 crore (SBI Rs. 328.92 crore and PNB Rs. 69.43 crore) approximately by way of availing higher credit facility, submitting inflated financials of company, fudging of books of accounts & securities offered and diversion of bank funds etc.
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Searches have been conducted at the premises of accused at Delhi which led to recovery of incriminating documents.