The CBI on Thursday registered a case against Nagpur-based Abhijeet Group, its directors and Kolkata-based Simplex Infrastructure ltd for criminal conspiracy and cheating for allegedly perpetrating a fraud of Rs290.77 crore by fraudulently availing letter of Credit facility from Canara Bank and Vijaya Bank between 2011 and 2013.
Following the registration of the case, the agency conducted searches at three locations in Kolkata, six in Nagpur and one each in Mumbai and Gurgaon at the residential and official premises of the accused persons, which led to recovery of incriminating documents, the agency said in a statement.
“The accused entered into a criminal conspiracy with each other and cheated both banks. An alleged loss to the tune of Rs218.85 crore (approx) to Canara Bank and Rs71.92 crore (approx) to Vijaya Bank was caused,” a CBI spokesperson said.
The CBI registered the case following a joint complaint from Canara Bank and Vijaya Bank. The CBI has named Abhijeet Projects ltd., its directors Manoj Jayaswal, Abhishek Jayaswal, Arun Kumar Srivastava and PN Krishnan as accused in the case. The agency has also named Simplex Infrastructure ltd. through its directors and other unknown persons as accused in the case, agency sources said.