Published On: Fri, Feb 28th, 2020

CBI books two Delhi firms in Rs 681-cr scam

New Delhi: The Central Bureau of Investigation (CBI) has registered separate cases against two Delhi-based private companies and their directors for causing a huge loss to banks of over Rs 681 crore by availing credit facilities, the agency said on Friday.

Both the cases were filed by the central probe agency this week following complaints from the banks

Both the cases were filed by the central probe agency this week following complaints from the banks.

In the first case, the Central Bureau of Investigation (CBI) lodged a FIR against Shree Bankey Behari Exports Ltd, its directors Amarchand Gupta, Shakuntala Devi, Ramlal Gupta, Rajkumar Gupta, and other unidentified public servants.

The firm and its directors have been booked for cheating, criminal conspiracy and forgery under the Prevention of Corruption Act on a complaint from the State Bank of India on behalf of the consortium banks.

It was alleged that the company availed credit facilities to the tune of Rs 625 crore and cheated members of the consortium banks by way of forgery and using forged documents as genuine.

This caused an alleged loss Rs 604.81 crore to the banks. The consortium banks consisted of seven banks, namely State Bank of India, Punjab National Bank, Vijaya Bank (now Bank of Baroda), Andhra Bank, Oriental Bank of Commerce, Syndicate Bank and Canara Bank.

Searches have been conducted at the premises of the directors of the borrower company in Delhi which led to the recovery of various incriminating documents, said a CBI official.

The other case has been registered against Rajesh Gems and Jewels Pvt Ltd, its Promoter and Director Rajesh Kumar Luthara, Parveen Luthara, unidentified public servants and private persons on a complaint from the Indian Overseas Bank, Delhi.

It was alleged that the promoters and directors of the company availed various loans and credit limits from the Indian Overseas Bank during 2003 to 2015 against “hypothecation” of jewellery stocks and collateral securities.

It was also alleged that the loan amounts were siphoned off through related parties in violation of lending conditions stipulated by the Bank, the official said.

It was further alleged that the books of the company were manipulated and forged to camouflage illegal siphoning-off of funds and misappropriation of hypothecated stocks. The Bank has suffered an alleged loss and declared an amount of Rs 77.51 crore as Non Performing Assets (NPA) on September 29, 2015.

Searches have been conducted at three places in Delhi at the premises of accused, the agency said.

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