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CBI lodges case against 2 firms for defrauding 2 PSU banks of Rs 235 cr

06:17 PM Dec 06, 2021 | Darshan Desai

Ahmedabad: The Central Bureau of Investigation has lodged an offence against a Surat-based private firm, its directors and unidentified public servants following allegations of causing the State Bank of India a staggering loss of Rs 214.11 crore.

Official CBI sources said the complaint by the SBI’s SAM branch in Ahmedabad related to sanctioning of term loans to the company to purchase new commercial vehicles.

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An official statement by the premier investigating agency said the SBI had alleged that the accused had cheated the bank by not hypothecating the vehicles in favour of State Bank of India. It was also alleged that the loan proceeds were not utilized for the purpose for which the term loans were sanctioned.

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Several teams of CBI conducted searches on the premises of the accused in Surat and Mumbai and recovered some incriminating documents.

The other case was registered on a complaint from Canara Bank, Lucknow, against private companies and others including its Directors, guarantors (all private persons) and unknown public servants.

It was alleged that the accused in conspiracy with each other had cheated Canara Bank by defrauding, misappropriating and diverting the loan amount and causing loss to the tune of around Rs 24.82 crore to the bank.

It was alleged that the private company mortgaged part of collateral security to a housing finance company to secure a loan of Rs 21.26 crore, but it turned out to be non-performing assets (NPAs) on June 30, 2017.

It was also alleged that the borrower company had sold primary and collateral security without intimating and obtaining an NOC from the bank.

Searches were conducted at the premises of the accused in Lucknow, Faizabad and Ghazipur in Uttar Pradesh, which led to recovery of incriminating documents.

Investigation in both the cases is continuing, the press release said.

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