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CBI books Radikal Foods for ₹819 crore banking fraud

Central Bureau of Investigation HQ, in New Delhi. File

Central Bureau of Investigation HQ, in New Delhi. File  

The Central agency said its directors Siddharth Chaudhary and Anju Chaudhary availed credit facilities and cheated SBI and other consortium of banks by using forged documents.

The CBI has booked a Delhi-based food exporter in an alleged fraud of ₹819 crore and carried out searches on a complaint from SBI on behalf of a consortium of banks, officials said on Thursday.

The agency has alleged that Radikal Foods Limited, which has its office at Saket, and its directors Siddharth Chaudhary and Anju Chaudhary availed credit facilities to the tune of ₹732 crore and cheated SBI and other consortium of banks by way of forgery and using forged documents, they said.

The CBI has carried out searches on their premises, the officials said.

“An alleged loss of ₹819.48 crore (approx) as on April 1, 2018, was caused to the banks,” an official said.

The consortium comprises State Bank of India (SBI), Indian Overseas Bank, Oriental Bank of Commerce, Exim Bank, Bank of India, IDBI Bank, Bank of Maharashtra, CSB Bank, Vijaya Bank (now Bank of Baroda) and UCO Bank, the official said.

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Printable version | Feb 28, 2020 3:26:43 PM | https://www.thehindu.com/news/national/cbi-books-radikal-foods-for-819-crore-banking-fraud/article30635373.ece

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