Friday, July 11, 2025
spot_img

CBI books Bulandshahr-based company for cheating banks of Rs 424 cr

Date:

Share post:

spot_imgspot_img

New Delhi : Cracking its whip against bank defaulters, the CBI on Thursday carried out searches at the premises of Bulandshahr-based Santosh Overseas Limited and its director Sunil Mittal in connection with an alleged fraud of over Rs 424 crore.

CBI officials here said that it conducted searches in Uttar Pradesh’s Bulandshahr and Delhi.

The CBI booked the company and Mittal in connection with a complaint from a consortium of seven banks led by the IDBI, alleging that they were defrauded to the tune of Rs 424.07 crore.

A CBI spokesperson said that it was alleged that the borrower company had availed packing credit from the banks on a fake purchase order from an associate concern.

“It was further alleged that the company was maintaining current accounts with non-consortium banks and the sale proceeds were routed through these accounts without the knowledge of consortium members,” the spokesperson said.

The CBI has alleged that heavy transactions were made by the company with related parties who did not have TIN registration etc.

Searches at the premises of the accused at Delhi and Bulandshahr led to the recovery of certain incriminating documents and material, the official added. (IANS)

spot_imgspot_img

Related articles

22 Maoists, including eight females, surrender in Chhattisgarh

Raipur, July 11: In a significant development in Chhattisgarh's Narayanpur district, 22 Maoists laid down their arms on...

BJP looting land, forest, water: Rahul Gandhi at ‘save Constitution’ rally in Odisha

Bhubaneswar, July 11: Congress leader Rahul Gandhi on Friday targeted the BJP, alleging that the ruling party has...

Centre plans Rs 1,345 crore subsidy scheme to boost production of Rare Earth magnets

New Delhi, July 11: The Indian government has drawn up a scheme to offer subsidies to the tune...

We missed no targets in Pak, not even a glass pane broken in India: NSA Doval on Op Sindoor

New Delhi, July 11: National Security Advisor (NSA) Ajit Doval on Friday addressed the convocation ceremony at IIT...