CBI registers case against Delhi-based company for Rs 1,800 cr bank fraud
Dec 04, 2020
New Delhi [India], December 4 : The Central Bureau of Investigation (CBI) has registered a case against Delhi-based company Jay Polychem India Limited and others for alleged bank fraud in the State Bank of India to the tune of Rs 1,800 crores and carried out searches at three locations in the national capital.
According to the CBI, the case has been registered on a complaint from the State Bank of India (SBI) against a private firm (borrower company) based at Lajpat Nagar, New Delhi and others including its director, guarantor etc, unknown public servants and unknown private persons on the allegations of causing an alleged loss of Rs 1800.72 crore (approx) to the SBI and other consortium banks.
It was alleged in the complaint that the accused had cheated the SBI-led consortium banks to the tune of Rs 1800.72 crore (approx) by way of diversion, siphoning off bank funds, fictitious transactions, cheating, forgery, criminal conspiracy, the agency said in a statement.
The investigation is underway, the CBI said.
