The CBI has registered a case on a complaint from Punjab National Bank against a Delhi-based private company Sonear Industries Ltd and others including its directors/guarantors and unknown public servants/private persons for causing a loss of Rs 168.73 crore to the public sector lender.
The CBI on Monday conducted searches at five locations in Delhi at the office and residential premises of the accused firm and individuals in the case.
“It was alleged that the said accused had cheated the Punjab National Bank by way of diversion of bank funds, fraudulent transactions, criminal misappropriation etc.,” the CBI said in a statement.
Besides the firm, its promoter Jitendra Kejriwal, directors Roop Kishore Tuli and Mohan Kumar Jha have also been named as accused in the case.
Earlier, the Sonear Industries Ltd. Was incorporated as Donear Décor Pvt Ltd. In May, 2004.
The company is engaged in the business of manufacturing decorative plywood, veneers and laminates sold under the brand names Donear/Sonear.