The Central Bureau of Investigation(CBI) 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/Sonipat, and other unknown persons for causing an alleged loss of Rs. 398.35 crore (approx.) to State Bank of India and Punjab National Bank.
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 crores) approximately by way of availing higher credit facility, submitting inflated financials of the 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 the recovery of incriminating documents.