CBI books Karnal based private firm for allegedly duping SBI of Rs 100 crore
New Delhi, May 27 : Central Bureau of Investigation has booked a private company and its directors including others for causing an alleged loss of over 100 crores to the State Bank of India.
The case has been filed on a complaint by SBI , against Karnal based private rice company by the probe agency wherein the accused include its three Directors , unknown persons and also unknown public servants, the sources said here.
It was alleged that the accused, engaged in the manufacturing of grain mill products (rice), obtained credit facilities from commercial branch of State Bank of India, Karnal(Haryana), by misrepresentation of facts.
In continuation it has been further alleged that the accused had cheated the Bank by diverting the loan amount for introduction of share capital, inflating the sale and purchase figures and devaluation of the stocks in a view to show losses for diverting the funds by selling the stock out of the books.
The accused have failed to pay back the loan amount , which resulted a loss to the bank to the tune of Rs 100.46 crore (approx),it was also alleged.
Probe is underway in the matter , the sources said.