The CBI has registered a case against a Delhi-based company for allegedly cheating the Development Bank of Singapore of Rs 122.49 crore from 2007 to 2012. The agency Saturday carried out searches at various premises associated with the company, Surya Vinayak Hospitalities Pvt Limited, and its directors across India.
The CBI has charged the company and its directors — Sanjay Jain, Rohit Choudhary, Sanjeev Agarwal, Rajeev Jain and Kamal Kant Sharma — with cheating and criminal conspiracy. The agency has registered six cases against the promoters and directors.
“The company was allegedly in the business of manufacturing perfumery compounds and trading of agro-commodities. The directors arranged firms and companies to show bogus sale and purchase of such products,” CBI spokesperson R K Gaur said. He said the stock of perfumery allegedly claimed by the company was worth about Rs 887 crore but its actual value was Rs 4.83 crore. Gaur said the accused allegedly submitted forged documents as valuable security to the bank to enhance the credit limit.