The CBI registers case against private company & others including its promoters/directors on allegations of causing loss of Rs. 1245 crore (approx) to banks and conducted searches at 13 locations across the country in the premises of the private firm.
The Central Bureau of Investigation has registered a case on complaint from IDBI Bank Ltd., Colaba, Mumbai, against a private company.
The private company has its manufacturing units at Dewas, (MP); Jhagadia Industrial Estate, Bharuch (Gujarat) & Registered office at Mumbai (Maharashtra) and 14 others including its promoters/directors and unknown public servants& private persons.
It has been further alleged that the said private company was engaged in the business of manufacturing of High Value Fine Cotton fabrics & Home Textiles.
Furthermore it is alleged the said company and its promoters/directors in conspiracy with others committed fraud by availing various credit/ loan facilities from a consortium of banks led by IDBI Bank Ltd. and misusing/ diverting the bank funds.
The funds were diverted during the period 2012 to 2018, and thereby caused loss of Rs. 1245.15 crores (approx) to the banks, the official communique said.
The complaint was filed by the IDBI Bank Ltd. and also on behalf of 04 other member banks of the consortium, namely, Central Bank of India, The Jammu & Kashmir Bank Ltd., Punjab National Bank and Indian Bank.
The CBI conducted searches at 13 locations including in Maharashtra, Gujarat and West Bengal at the premises of the accused which led to recovery of incriminating documents.
The CBI has registered case against M/s S. Kumars Nationwide Limited (SKNL), having its manufacturing units at Dewas (MP); Jhagadia Industrial Estate, Bharuch (Gujarat) & Registered office at Mumbai (Maharashtra) and its promoters/ directors/private persons and unknown public servant & unknown private persons.
The searches were continued till late night on Wednesday.
