Rs 1,400-crore financial institution fraud: CBI searches in opposition to dairy merchandise agency


New Delhi, September 21

The CBI Monday carried out searches at eight areas after reserving Delhi-based dairy merchandise firm Kwality Ltd and its administrators for allegedly dishonest a Bank of India-led consortium, inflicting a lack of over Rs 1,400 crore, officers stated.

The CBI has registered the case in opposition to Kwality Ltd and its administrators Sanjay Dhingra, Siddhant Gupta, Arun Srivastava moreover different unidentified individuals, they stated.

“It was alleged in the complaint that the said accused had cheated the Bank of India-led consortium comprising BOI (lead bank), Canara Bank, BoB, Andhra Bank, Corporation Bank, IDBI, Central Bank of India, Dhanlaxmi Bank, Syndicate Bank to the tune of Rs 1400.62 core (approx.),” CBI spokesperson RK Gaur stated.

They allegedly cheated the banks by means of “diversion of bank funds, sham transactions with related parties, fabricated documents/receipts, falsified books of accounts” and created false property and liabilities, and so forth., Gaur stated.

The searches have been carried out Monday at eight areas, together with at Delhi, Saharanpur, Bulandshahr (Uttar Pradesh), Ajmer (Rajasthan), Palwal (Haryana), and so forth., on the premises of the non-public firm and different accused. PTI

 

 



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