Bill discounting is a type of lending in which the bank takes the bill drawn by the borrower on his customer and pays him immediately, deducting some amount as a discount/commission.
The accused company availed bill discounting facilities from the bank on the basis of bogus bills/invoices and defrauded it.
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The Economic Offences Wing (EOW) of the Mumbai police has registered a case of cheating and forgery against the directors of two private companies for allegedly duping HDFC Bank to the tune of Rs 21.82 crore.
The accused company availed bill discounting facilities from the bank on the basis of bogus bills/invoices and defrauded it.
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Bill discounting is a type of lending in which the bank takes the bill drawn by the borrower on his customer and pays him immediately, deducting some amount as a discount/commission.
The police have booked Satnam Singh Maini and Harangad Singh Maini of Agile Security Force & Systems Pvt. Ltd. and Whiskers Infracare Pvt. Ltd.
