CBI conducts searches in a Bank fraud case relating to 398 Crore

DN Bureau

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:

File Photo
File Photo

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.

Also Read: New Delhi: CBI arrested SHO and two Police constables in a bribery case 

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.

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

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