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New Delhi:
The CBI on Friday performed searches at three places in Delhi and NCR in reference to an alleged financial institution mortgage fraud of Rs 190 crore, officers stated.
The searches have been performed after the company registered an FIR in opposition to Shri Sidhdata Ispat Pvt. Ltd., Govardhan Industries Pvt. Ltd., Shri Sidhdata Steel Tubes, Sudershan Tubes and others on the criticism of Bank of Baroda, they stated.
It has additionally booked their promoters and administrators Om Prakash Gupta, Pradeep Kumar Gupta, Rajesh Kumar Gupta, Suresh Kumar Gupta, Manju Gupta amongst others, they stated.
The loans taken by the businesses through the years grew to become non-performing belongings in 2013-14, the officers stated.
The financial institution did forensic audit which confirmed irregularities in upkeep of account books, bogus transactions, lack for correct value accounts and so on in addition to diversion of funds, they stated.
“It was alleged in the complaint that the accused cheated Bank of Baroda to the tune of Rs. 190.76 crore (excluding interest) by way of availing various credit facilities, on the basis of submitting fake documents to the bank…,” CBI spokesperson RK Gaur stated.
It was additionally alleged that the diverted the funds fraudulently for the aim aside from for which the identical have been sanctioned, he stated.
“Searches have been conducted today at two places in Noida (UP) and one place in Delhi which led to recovery of incriminating documents/material,” he stated.
(Except for the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)
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