Bank of India files cheating case, CBI registers FIRs against directors of pvt firmshttps://indianexpress.com/article/business/business-others/bank-of-india-files-cheating-case-cbi-registers-firs-against-directors-of-pvt-firms-5116652/

Bank of India files cheating case, CBI registers FIRs against directors of pvt firms

Sources said the first FIR was registered against two companies - Sri Nangli Rice Mills at Mandi Gurdaspur, Neha Gupta & Associates, situated in Swank Mandi in Amritsar. These both the companies had procured a loan of Rs 61.01 crore from BoI.

Bank of India files cheating case, CBI registers FIRs against directors of pvt firms
Both the FIRs were registered under the charges of forgery, cheating, criminal conspiracy and Section 13 (2), and 13 (1) of Prevention of Corruption Act, 1988.

THE CENTRAL Bureau of Investigation (CBI) Thursday registered two cases on a complaint from Bank of India (BoI) against some directors of private companies based in Punjab and others on the allegations of cheating the bank of Rs 61.01 crore and Rs 28.30 crore.

Both the FIRs were registered under the charges of forgery, cheating, criminal conspiracy and Section 13 (2), and 13 (1) of Prevention of Corruption Act, 1988.

Sources said the first FIR was registered against two companies – Sri Nangli Rice Mills at Mandi Gurdaspur, Neha Gupta & Associates, situated in Swank Mandi in Amritsar. These both the companies had procured a loan of Rs 61.01 crore from BoI.

A source in the CBI said, “It was alleged that the directors of these companies in pursuance of a conspiracy induced Bank of India to sanction credit facilities on the basis of forged/ fabricated stock statements, balance-sheets etc. and cheated the bank without repaying the loan to the tune of Rs. 61.01 crore. The loan was sanctioned six years ago.
The second FIR was registered against Sri Nangli Agro Tech in Mandi Gurdaspur and V B Aggarwal and Company situated at Mohan Market in Pathankot. Sources said directors of these two companies had procured a loan of Rs 28.30 crore after submitting fake documents.

Four different team of CBI also carried out searches at the houses of directors of these companies at Hoshiarpur, Gurdaspur, Amritsar and Pathankot. A senior CBI officer said, “We have seized property-related documents and some of details of bank accounts. All the seized material is being scrutinised.”