The Central Bureau of Investigation (CBI) has registered two separate cases of banking fraud to the tune of about Rs 132 crore and conducted searches at several locations.
The first case was registered on a complaint from State Bank of India (SBI) against an Ahmedabad-based private company Krishna Knitwear Technology Ltd., its directors, unknown public servants and others on the allegations of cheating the bank to the tune of Rs 67.07 crore.
The accused company was engaged in manufacturing of cotton yarn, knitted grey fabric and finished garments.
“It was alleged that during the period 2011 to 2015, the accused entered into a conspiracy to cheat the SBI by way of forgery/falsification of accounts and diversion of funds,” the CBI said in a statement.
The company allegedly availed Fund Based Working Capital (FBWC) with SBI, MCB, Vapi Branch, Ahmedabad, Gujarat.
It was further alleged that only around 20 percent of its receipts and payments from its debtors and creditors were routed through banking channels, and the remaining amount was siphoned off, it said.
Searches were conducted at 10 places including official and the residential premises of the accused / private company at Silvassa and Mumbai which led to the recovery of incriminating documents/articles.
The second case was registered on a complaint from Punjab & Sind Bank against a private company (borrower company) based at New Delhi/Noida, Alpine Realtech Pvt. Ltd. and others including its directors, two other private companies, unknown public servants and others on the allegations that the said accused had cheated the bank to the tune of Rs 64.78 crore by way of diversion / siphoning off bank funds, misappropriation and cheating.
Searches were conducted at nine locations in Delhi / NCR at the office and residential premises of the accused including the firm.