New Delhi, April 13: The Central Bureau of Investigation (CBI) has arrested four persons including Directors of a Delhi based private firm for causing an alleged loss of about 2240 crore rupees to the consortium of Banks. It had registered a case in the matter on the basis of a complaint of Punjab National Bank.
During the investigation, it was alleged that the accused persons fraudulently used more than 100 shell companies for round tripping and diversion of Bank funds. Meanwhile, a Delhi court on Wednesday sent the four accused persons to 10-day CBI custody.
Investigation agency said that there was no genuine business transaction between the said firm and Shell Companies. The said firm also allegedly diverted Rs.376 crore out of the Working Capital Limit obtained from consortium of Banks to six Wholly Owned Foreign Subsidiaries based at Singapore, Hong Kong, Dubai, Indonesia, Ghasa & China. Further investigation is continuing.
The company had defaulted in loan repayments following which it was declared a wilful defaulter by the banks. A number of bank officials are also under the scanner of the agency. Further investigation in the matter is underway, said CBI.