CBI registers FIR against biz group for fraud of Rs 212 crore
NEW DELHI: CBI has registered a case against Deputy General Manager of Central Bank of India, a Kolkata- based company and its three promoters for allegedly defrauding the bank by Rs 212.30 crore during 2011-13.
DGM Rakesh Jaiswal, company Jain Infraprojects Limited and the company promoters – Mannoj Kumar Jain, his wife Rekha Mannoj Jain and Sunil Kumar Dangi – have been booked for alleged criminal conspiracy, cheating, forgery besides provisions of Prevention of Corruption Act, CBI sources said.
“It was alleged that a fraud of Rs 212.30 crores (approx) was perpetrated and there was fraudulent availment of Credit limit and Letter of Credit/BG facility from Central Bank of India during the period 2011-2013,” CBI spokesperson said.
She said the accused entered into a criminal conspiracy with each other and allegedly diverted bank funds illegally for a purpose other than for what it had been sanctioned.
“An alleged loss of Rs 212.30 crores (approx) was caused to the Bank. The said account was declared as NPA and fraud by the Bank,” she said.
The spokesperson said the searches were conducted at five places in Kolkata and one place in Allahabad at the residence and office premises of the accused persons.
Documents including copies of LCs and BGs and certain seals of four shell companies, through which some proceeds of loan have been allegedly invested on diversion were recovered during the searches, the spokesperson said.
CBI suspects that Mannoj Kumar Jain tried his luck in cricket and media business with limited success.
Read full article: Economic Times
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