The Central Bureau of Investigation (CBI) has filed a Chargesheet before Special Judge, CBI cases, Rouse Avenue District Courts, New Delhi against a private company based at Mumbai and others including its then Promoter etc in an ongoing investigation of a case related to bank fraud of Rs.2435 crore (approx).
A case was registered on 22.06.2021 against the private company and others including its Promoter; CEO & MD; ED & CFO; two Independent Directors; CFO, Unknown Public Servants & unknown others. It was alleged that the accused had cheated the consortium of 13 banks, led by State Bank of India, causing fraud of Rs. 2435/- Crore (approx). It was also alleged that huge amounts of bank loans were diverted by the accused to its related parties and subsequently adjustment entries were made. It was further alleged that the accused had availed loans against the same securities without disclosing finance taken from other banks and also borrowed funds from the bank by misrepresentation & falsifying of books of accounts, entries & vouchers. The company was into the business of manufacturing of electrical equipments.
Further investigation is continuing.