The Central Bureau of Investigation( CBI ) has registered a case against a private company based at Jaipur(Rajasthan) and others including its Directors & Unknown others on a complaint from Union Bank of India, Regional Office, Jaipur alleging therein that the accused obtained loan of Rs.15 crore from erstwhile Andhra Bank (now Union Bank of India) on 17.06.2016 for construction of a residential complex project. It was alleged that the company through its Directors and others in conspiracy with unknown official(s) diverted the sale proceeds of the property without routing the said funds through ESCROW account and thereby defrauded the Union Bank of India to the tune of Rs.14 crore(approx) by way of cheating, criminal breach of trust, criminal misappropriation, criminal conspiracy, abuse of official position etc.
Searches were conducted at the premise of the accused including at Jaipur which led to recovery of incriminating documents Investigation is continuing.
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