The Central Bureau of Investigation (CBI) has registered two separate cases relating to the bank frauds prominent banks in the country have been cheated of over 500 crore rupees.. According to the complaints registered with the probe agency, a consortium of banks including the State Bank of India (SBI) was duped of Rs 452.62 crores and Bank of Baroda of Rs 73 crores.
The first case was registered on the complaint from State Bank of India (SBI) against a private firm based in Gujarat’s Ahmedabad and others including its Directors and unknown public servants on the allegations of cheating the consortium of banks including State Bank of India to the tune of Rs 452.62 crore (approximately) during the period 2013 to 2017. It was alleged that during the period between 2013 and 2017, the accused entered into a criminal conspiracy to defraud the consortium of banks comprising State Bank of India, Bank of Baroda, Central Bank of India, Bank of Maharashtra, Punjab National Bank and Vijaya Bank in the matter of various credit facilities extended by them. In pursuance of the said conspiracy, the CBI said the accused manipulated/falsified the books of accounts and diverted/siphoned off the funds of the banks, and thereby cheated the consortium of banks to the tune of Rs. 452.62 crore (approx).
The CBI conducted searches at four places today including official and residential premises of private company/directors at Ahmedabad which led to recovery of incriminating documents and articles.