CBI books 3 persons for defrauding banks for Rs 555.65 Cr - United News of India

CBI books 3 persons for defrauding banks for Rs 555.65 Cr

Shimla, Mar 19 (UNI) Central Bureau of Investigation booked three persons on Friday for defrauding various banks for Rs 555.65 Cr in the state and other parts of country after conducted search and raids on their

properties and locations in the state.

A press release issued by the CBI said that First Information Report was registered against three persons

belonged to a private company and others for causing alleged loss of around Rs 555.65 Cr.

CBI named three accused in this scam includes M/s Indian Technometal Company Limited, Director of

firm Rakesh Kumar Sharma and Vinay Kumar Sharma.

CBI has registered a case against this private company & others including its Directors and unknown

public servants & other persons on a complaint from Union Bank of India erstwhile Corporation Bank

(Lead Bank), New Delhi.

It was alleged that said private company through its Directors in conspiracy with others has defrauded a

consortium of banks of Corporation Bank (Now Union Bank), State Bank of Hyderabad (now State Bank of India), Punjab National Bank, Punjab & Sindh Bank, UCO Bank, Syndicate Bank, Central Bank of India, Karur Vyasya Bank and JM Financial ARC.

The firm allegedly found involved on the basis of misrepresentations or concealment of facts and false documents or information, causing loss to the tune of Rs 555.65 crore (approx.) to the said consortium of banks.

The agency said that searches were conducted at the premises of the accused or firm including at Kangra (Himachal Pradesh) seizing incriminating documents in this action.

UNI ML SHK2135

Published On: Fri, 19 Mar 2021 15:34:00 GMT