The CBI has registered a case on complaint from Union Bank of India (UBI), Ahmedabad against a Gujarat-based private company and others including its directors/partners, unknown public servants and others on the allegations of cheating the bank to the tune of Rs 44.64 crore. The agency also conducted searches at seven locations of the accused persons.
It was alleged that during the period 2014 to 2020, the accused in pursuance of conspiracy induced the UBI to sanction various credit facilities including cash credit and term loans amounting to Rs 47.30 crore, the agency said in a statement.
It was further alleged that the account of the borrower was later classified as non-performing asset (NPA) on January 15 last year due to non-servicing of interest/installments, thereby, causing a loss of Rs 44.64 crore to UBI, it said.
Searches were conducted at sevn places including the official and residential premises of the accused at Upleta and Rajkot (Gujarat) which led to recovery of incriminating documents/articles, it further said.
Besides the firm, Mandeep Industries, the firm;s Directors/Partners Ashish B. Talaviya, Kishorbhai H. Vaishnavi, Ramjibhai H. Gajera, Kalpesh Pravinbhai Talaviya Bhavesh M. Talaviya and unknown public servants and unknown others have been listed as accused in the case.
