Mumbai Crime : with State Bank of India (State Bank of India) fraud of five other consortium member banks to the tune of Rs 1017.93 crore (Fraud). A case was registered on May 11 on the complaint of State Bank of India. CBI in Raigad (Raigad) A case has been registered against the company Loha Ispat Limited along with its director and 7 accused including the guarantor of a private company in Mumbai, an unknown government servant and an unknown person.
What’s the matter?
Accused during the period 2012 to 2017, 812.07 crores of working capital (playing capital), term loan and taking advantage of NFB limit of State Bank of India and other 5 consortium member banks i.e. Bank of India (Bank of India), Canara Bank (Canara Bank), A conspiracy was hatched to defraud Indian Overseas Bank, Punjab National Bank and Bank of Maharashtra. State Bank of India has alleged in its complaint that the accused defrauded the banks by showing fictitious sale/purchase transactions and non-payment of outstanding loans resulting in a total loss of Rs 1017.93 crore to SBI and other 5 consortium member banks.
FIR filed against ‘these’ accused
CBI raids at nine places (CBI Raid)
The company’s bank account was declared Non-Performing Asset (NPA) from 28 August 2014. Subsequently, the Fraud Identification Committee of State Bank of India classified this as fraud in a meeting held on February 13, 2019, it has been said in the case filed by the CBI. CBI also raided nine places in this case. Delhi and Maharashtra. During this time some documents and items were seized.
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