Syndicate Bank has lodged a case with the Central Bureau of Investigation (CBI) seeking action against two Madhya Pradesh-based companies, their functionaries, and the bank’s panel valuers, for cheating it of ₹10 crore.
The bank has identified Shubham Enterprises and Saket Coke & Coal as offenders, alleging that they availed themselves of credit to the tune of ₹10 crore that was never paid back, and that the current outstanding payable to the bank is over ₹15 crore. The bank’s panel valuers, Sanjay Nigam and Rajesh Srivastava, and panel advocate P.C. Rathore, have been accused of complicity.
Both the companies, in which accused Narendra Prajapati and Sarvesh Chandak were the main functionaries, trade in coke and coal. It is alleged that the funds were diverted by the accused persons.
