CBI searches at 19 locations in bank fraud case against two firms, directors

Unknown bank officials are also under the scanner

The Central Bureau of Investigation on Thursday conducted searches at 19 locations in Delhi, Faridabad and Bengaluru in connection with a ₹135-crore bank fraud case against two SRS Group of companies and their directors.

Among those named are SRS Real Infrastructure Limited, SRS Real Estate Limited and directors Anil Jindal, Rajesh Singla, Nanak Chand Tayal, Bishan Bansal, Vinod Jindal and Jitender Kumar, said an agency official.

The case has been registered on a complaint from the Canara Bank. Unknown bank officials are also under the scanner.

It is alleged that the companies availed themselves of term loans from the bank and the funds so raised were diverted by not routing the proceeds of sale/booking of the flats through the accounts maintained with the bank.

Assets attached

The Enforcement Directorate had earlier attached assets worth ₹2,510.82 crore of the SRS Group, its promoters, their family members and associate companies in connection with over 20 cheating cases registered at various police stations in Haryana’s Faridabad.

The Economic Offences Wing of the Delhi police has also registered an FIR.

The attached properties included parcels of land, real estate projects, residential houses, school, cinema hall and the cash in bank accounts.

In April 2018, the Faridabad police had arrested Mr. Jindal and four others on allegations of cheating investors. The accused lured investments from individuals and institutions in projects on the promise of high returns. The funds were allegedly diverted to group companies via shell firms.