Categories: Business

CBI files case against rice mill and its three directors for cheating SBI for Rs 100 crore

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CBI registers a case against rice mill and its three directors

new Delhi. The CBI has registered a case against Karnal-based Shakti Basmati Rice Pvt Ltd and its three directors for allegedly cheating 100 crores from State Bank of India. Officials gave this information on Wednesday.

A spokesperson of the Central Bureau of Investigation (CBI) said directors Shyam Lal, Praveen Kumar and Suresh Kumar had allegedly facilitated loans from the commercial branch of SBI in Karnal, Haryana. The official said that the company that produces the grain mill product (rice) has appropriated the loan amount for share capital.

Increased the purchase and sale figures and showed the devaluation of the stock to justify putting the amount of debt elsewhere. The company reportedly failed to repay the loan, causing a loss of Rs 100.46 crore to the bank. The official said that the investigating agency has also registered a case against unnamed public servants in this connection.

This post was published on May 27, 2020 7:33 pm

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