CBI registers two cases against Punjab firms for bank fraud

March 30, 2018 09:42 AM

Punjab News Express
NEW DELHI: The Central Bureau of Investigation has registered two cases against at least eight directors of private companies based in Punjab and other unidentified persons and public servants on charge of bank fraud.

The CBI action came on a complaint filed by Bank of India regarding cheating to the tune of Rs 61.01 crore and Rs 28.30 crore.

Two accused Directors of Nangli Rice Mills Private Ltd, in pursuance of a conspiracy, induced the bank to sanction credit facilities on the basis of fabricated stock statements, balance sheets and later cheated the bank without repaying the loan," the CBI said in a statement.

The CBI also registered cases against four directors of Agro Tech Company in Gurdaspur Mandi and a private firm in Pathankot.

"Searches were conducted on Thursday at various locations, including Hoshiarpur, Gurdaspur, Amritsar, and Pathankot, which led to seizure of incriminating documents," the agency added.


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