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CBI books Haryana firm for bank fraud worth ₹100 crore

The Central Bureau of Investigation (CBI) logo at CBI head quarters, in New Delhi.

The Central Bureau of Investigation (CBI) logo at CBI head quarters, in New Delhi.   | Photo Credit: PTI

The accused persons allegedly availed themselves of credit facilities from the SBI by misrepresentation of facts.

The Central Bureau of Investigation has registered a case against Karnal-based Shakti Basmati Rice Private Limited, its three directors and unknown officials for allegedly causing wrongful loss of over ₹100 crore to the State Bank of India (SBI).

The company’s directors have been identified as Shyam Lal, Parveen Kumar and Suresh Kumar.

The accused persons allegedly availed themselves of credit facilities from the SBI by misrepresentation of facts. The funds were allegedly diverted for introduction of share capital, inflating the sale and purchase figures and for devaluation/decrease of stocks to show losses.

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Printable version | Jul 12, 2020 8:38:50 AM | https://www.thehindu.com/news/national/cbi-books-rice-mill-three-directors-in-100-crore-cheating-case/article31686745.ece

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