The CBI on Friday conducted searches at three locations in Delhi and NCR in connection with an alleged bank loan fraud of Rs 190 crore, officials said.
The searches were conducted after the agency registered an FIR against Shri Sidhdata Ispat Pvt. Ltd., Govardhan Industries Pvt. Ltd., Shri Sidhdata Steel Tubes, Sudershan Tubes and others on the complaint of Bank of Baroda, they said.
It has also booked their promoters and directors Om Prakash Gupta, Pradeep Kumar Gupta, Rajesh Kumar Gupta, Suresh Kumar Gupta, Manju Gupta among others, they said.
The loans taken by the companies over the years became non-performing assets in 2013-14, the officials said.
The bank did forensic audit which showed irregularities in maintenance of account books, bogus transactions, lack for proper cost accounts etc besides diversion of funds, they said.
“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 said.
It was also alleged that the diverted the funds fraudulently for the purpose other than for which the same were sanctioned, he said.
“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 said.
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