CBI registers fresh bank fraud case against Siddhi Vinayak Logistics
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The firm, which had taken loans of about ₹2,000 crore from 13 banks, is already dealing with probe by a number of companies
The Central Bureau of Investigation has registered a fresh case against Surat-based Siddhi Vinayak Logistics Limited (SVLL) and others for allegedly dishonest the erstwhile Andhra Bank of over ₹89 crore. The firm, which had taken loans of about ₹2,000 crore from 13 banks, is already dealing with probe by a number of companies.
The newest FIR additionally names Laxmi Baid, Rajkumar Baid, Deepak Baid and Roopchand Baid as accused individuals. They had secured two time period loans involving ₹100 crore for SVLL from July 2012 to September 2014, for the acquisition of 336 business automobiles.
The firm submitted copies pertaining to 251 automobiles as safety against the loans. However, on verification from the respective Regional Transport Offices, the bank officers later discovered that there already was cost of the opposite banks on 30 automobiles, as alleged.
It is suspected that copies of the Registration Certificate books given to the bank have been cast.
The mortgage account was categorised as non-performing asset on October 27, 2015, which resulted in a lack of ₹89.11 crore to the bank.
Last yr, the Enforcement Directorate had hooked up 6,170 automobiles value over ₹1,600 crore in a cash laundering case involving SVLL and others. In June 2017, the company had hooked up property value about ₹20 crore.
The CBI registered the primary case against SVLL and others in August 2015, in reference to loans to the tune of ₹800 crore taken from the Bank of Maharashtra for its “Chalak Se Lalak” scheme. The funds meant for purchasing automobiles have been disbursed to numerous corporations and allegedly diverted. In September 2018, the CBI registered one other case.
Under the “Chalak Se Malak” scheme, the accused individuals had claimed that they would offer vehicles to the drivers working for the corporate. A listing of drivers was additionally provided to the bank authorities. However, the loans have been allegedly siphoned off.
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