The Central Bureau of Investigation on Saturday conducted searches against Delhi-based Shakti Bhog Foods Ltd for allegedly cheating a consortium of banks, led by the State Bank of India (SBI), to the tune of Rs 3,269.42 crore.
The searches followed the registration of a case under various Indian Penal Code Sections relating to criminal conspiracy, forgery of valuable security, forgery for cheating, using forged documents as genuine and relevant provisions of the Prevention of Corruption Act for falsification of accounts. The agency registered the case on Thursday on a complaint from SBI against the private company (borrower company) based at Delhi and others including its MD/Guarantor; Directors and unknown public servants/others for causing an alleged loss of Rs 3,269.42 crore to the SBI and other consortium member banks.
“It was alleged in the complaint that the said accused had cheated the State Bank of India led consortium banks by ways of criminal conspiracy, cheating, forgery of valuable security, forgery for the purpose of cheating, using forged documents as genuine etc.,” the agency said in a statement.
Searches were conducted at eight locations in Delhi at the official and residential premises of the borrower company/other accused, which led to recovery of incriminating documents, it added.
Besides Shakti Bhog Foods Ltd., others named in the FIR are promoters/directors Kewal Krishan Kumar, Siddarth Kumar, Sunanda Kumar, unknown public servants and unknown others.