CBI has registered an FIR against a Gujarat-based firm for allegedly cheating Bank of Baroda to the tune of `374.49 crore by availing line of Credit but not making any export against them.
ABC Cotspin, its Director Ashish Jobanputra, his wife Preeti and three officials of Bank of Baroda — an Assistant General Manager, a Chief Manager and a Senior Manager — have been named in the FIR registered under IPC sections related to cheating and provisions of the Prevention of Corruption Act, official sources said.
The company is already facing CBI probe in another cheating case involving State Bank of India in which it allegedly cheated the bank to the tune of `430 crore by submitting forged bills.
After registering the case, the CBI on Thursday conducted searches at three places two in Ahmedabad and one in Mumbai at the premises of accused.
The fresh case relates the alleged cheating involving BoB during 2014-15.
"It was further alleged that the said private company was sanctioned a Packing Credit facility and also a facility for Foreign bills purchase/discounting under lC.189 Bills were allegedly remained unpaid. On verification from the concerned authorities, it was found that no export had allegedly taken place against 184 bills. Further verification by a law Firm engaged by the bank, it was also found that stocks were allegedly unavailable in all the three warehouses in China indicated by the borrower, the CBI said in a statement.