CBI registers case against 2 Mumbai-based companies in Rs 57 cr bank fraud
Jun 17, 2020
New Delhi [India], June 17 : The Central Bureau of Investigation (CBI) has registered a case against two Mumbai-based private companies, their promoters, unknown public servants and bank officials for allegedly cheating the Bank of India of approximately Rs 57.26 crore.
According to CBI, the case has been registered on a complaint from the bank.
"It was alleged that during the year 2013 to 2018, the Mumbai based private overseas company represented by its MD and others including unknown public servants entered into a conspiracy with an intent to cheat the Bank of India's mid-corporate branch in Mumbai in the matter of availing foreign bills purchase, negotiation limit and export packaging credit limit," the CBI said in a statement on Wednesday.
The probe agency said that searches have been conducted at five places in Mumbai, including the residential and official premises of accused persons and the private company.
It said that certain incriminating documents including property, loan, various bank account details, and locker keys have been recovered in the same.
The CBI said that in pursuance of the conspiracy, the accused private company allegedly got sanctioned and released said facilities of approximately Rs 60 crore.
"It was further alleged that after availing the said limits, the accused company diverted the funds and prepared forged and fabricated documents in support of the claim. An alleged loss to the tune of approximately Rs 57.26 crore was caused to the Bank of India," the statement said.
Further investigation in the matter is underway.
