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New Delhi:
The CBI on Friday carried out searches at three areas after registering a case of financial institution fraud in opposition to Jay Polychem Ltd, officers mentioned.
The company has obtained a criticism from the SBI in opposition to the Lajpat Nagar-based firm and its promoters and administrators for inflicting a lack of Rs 1,800.72 crore to a consortium led by the financial institution, they mentioned.
A forensic audit by Ernst and Young confirmed alleged diversion and siphoning off of financial institution funds, fictitious transactions, forgery and many others ensuing within the FIR, they mentioned.
“Searches are being conducted today at three locations in Delhi at the office and residential premises of borrower company and other accused,” CBI spokesperson R Okay Gaur mentioned.
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