Bank Fraud : CBI registers case against Mumbai-based company
Searches conducted at nine places including at Mumbai, Nagpur & Chhattisgarh
By Inder Vashisth
The Central Bureau of Investigation has registered a case on complaint from IDBI Bank against a private company based at Mumbai and others including its Directors, unknown public servants & private persons on the allegations of cheating IDBI Bank to the tune of Rs.63.10 crore(approx) during the period 2014 to 2016.
CBI spokesperson R C Joshi said that it was alleged that the accused entered in a conspiracy with an intention to cheat IDBI Bank and committed fraud in the various credit facilities availed under consortium of banks viz, Letter of Credit/Trade Credit Bank Guarantee (LC/TCBG), Bank Guarantee & Cash Credit limits.The account of the borrower company was classified as Non-Performing Assets(NPA) due to persistent irregularity, thereby, causing an alleged loss of Rs.63.10 crore(approx) to IDBI Bank.
Searches were conducted at nine places including at Mumbai, Nagpur & Chhattisgarh at the premises of accused which led to recovery of incriminating documents.
Name of the accused:
a) M/s. Topworth Steels & Power Pvt Ltd, including Directors i.e Surendra Champalal Lodha; Abhay Narendra Lodha, Ashwin Narendra Lodha; Nitin Golecha
b) Unknown public servants & unknown private persons.
Investigation is continuing.
