Mumbai: CBI Registers Case Against Pvt Firms, Others in Rs 91.92 Cr Loan Default Case

The Central Bureau of Investigation has registered a case against a Pune-based private company and others including its directors, other private company, unknown public servants and private persons for allegedly causing loss to the tune of Rs 91.92 crore to the Union Bank of India.

According to the CBI, the case was registered on the complaint from Union Bank of India, Pune against a private company and others. “It was alleged that said borrower company & its promoters availed credit facilities from Union Bank of India on the basis of manipulated stocks-book debts statements, financial statements with inflated figures/over stating sales, income & profit in order to draw higher volume of amounts from the bank and thereby diverted the proceeds into the accounts of its related and associated companies without its end utilization,” the agency official claimed.

Searches were conducted at various places in and around Pune which led to recovery of incriminating voluminous documents, hard disks, electronic gadgets etc. from the premises of the accused, CBI officials said on Thursday.

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