Central Bureau of Investigation
CBI Registers A Case Against A Private Company & Its Three Directors And Others For Causing An Alleged Loss of Rs.100.46 Crore (Approx) To SBI
New Delhi, 27.05.2020
The Central Bureau of Investigation has registered a case on a complaint received from State Bank of India against a private rice company based at Karnal (Haryana) & its three Directors and unknown others including unknown public servants.
It was alleged that the accused, engaged in the manufacturing of grain mill products (rice), obtained credit facilities from commercial branch of State Bank of India, Karnal (Haryana), by misrepresentation of facts. It was further alleged that the accused had cheated the Bank by diverting the loan amount for introduction of share capital, inflating the sale & purchase figures and devaluation/decrease of stocks to show losses for diverting the funds by selling the stock out of the books. It was also alleged that the accused failed to repay the loan amount resulting in the loss of Rs.100.46 crore(approx) to Bank.
Investigation is continuing.