The CBI on Friday performed searches at three areas in Delhi and NCR in reference to an alleged financial institution mortgage fraud of Rs 190 crore, officers mentioned.
The searches have been performed after the company registered an FIR towards Shri Sidhdata Ispat Pvt. Ltd., Govardhan Industries Pvt. Ltd., Shri Sidhdata Metal Tubes, Sudershan Tubes and others on the criticism of Financial institution of Baroda, they mentioned.
It has additionally booked their promoters and administrators Om Prakash Gupta, Pradeep Kumar Gupta, Rajesh Kumar Gupta, Suresh Kumar Gupta, Manju Gupta amongst others, they mentioned.
The loans taken by the businesses through the years turned non-performing belongings in 2013-14, the officers mentioned.
The financial institution did forensic audit which confirmed irregularities in upkeep of account books, bogus transactions, lack for correct value accounts and many others in addition to diversion of funds, they mentioned.
“It was alleged within the criticism that the accused cheated Financial institution of Baroda to the tune of Rs. 190.76 crore (excluding curiosity) by the use of availing varied credit score services, on the premise of submitting pretend paperwork to the financial institution…,” CBI spokesperson RK Gaur mentioned.
It was additionally alleged that the diverted the funds fraudulently for the aim aside from for which the identical have been sanctioned, he mentioned.
“Searches have been performed in the present day at two locations in Noida (UP) and one place in Delhi which led to restoration of incriminating paperwork/materials,” he mentioned.
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