6 directors of perfume firm booked for Rs 122.49 cr fraud

Tribune News Service

The CBI has registered a case against six accused, all directors of a private company, in an alleged case of cheating a foreign bank.

The agency registered the case on the basis of a complaint of the Development Bank of Singapore Limited. The case was registered under Sections of 120 B, 420, 467, 468, 471 of the Indian Penal Code on the allegations of cheating the bank for Rs 122.49 crore, approximately, between 2007 and 2012, spokesperson for the CBI said.

The accused have been identified as Sanjay Jain, Rajiv Jain, Rohit Chaudhary, Sanjeev Agarwal, Rajeev Jain, Kamal Kant Sharma, all directors of Surya Vinayak Industries Limited, a Delhi-based private company. The case was also registered against the firm.

The accused were earlier arrested in another case and were in judicial custody, the spokesperson said.

It was also alleged that the company was in the business of manufacturing of perfumery compounds and trading of agro commodities and the directors arranged firms to show bogus sale and purchase of agro commodities and perfumery compounds. The stock of perfumery allegedly claimed by the company was of Rs 887 crore. When evaluated by the Fragrance and Flavour Development Centre, it turned out that the alleged value was of Rs 4.83 crore.

The accused also allegedly submitted forged and fabricated documents as well as valuable security to the bank for enhancement of credit limit.

Search is being conducted today on the premises of accused in Delhi, the spokesperson said.

The private company had also cheated the consortium member banks for a total amount of Rs. 2,240 crore. Four accused, including directors and others, had been arrested by the CBI on April 11, 2017. So far, the CBI has registered six cases against the accused, he said.