4 in CBI net for duping banks of Rs 2,240 crore

New Delhi, April 12

The CBI today arrested four directors of Surya Vinayak Industries for allegedly cheating banks to the tune of Rs 2,240 crore. They were later remanded in 10-day CBI custody by a Delhi court.

Chief Metropolitan Magistrate Sumit Dass sent Sanjay Jain, Rajiv Jain, Rohit Chaudhary and Sanjeev Agarwal, arrested on a complaint filed by Punjab National Bank, to custody till April 22. The accused were arrested for allegedly using more than 100 shell companies for diversion of bank funds. The CBI told the court the accused had cheated 17 nationalised and four private banks. The agency, while seeking custody, told the court the accused were not cooperating in the recovery of the crime proceeds, the money they made through the crime and invested abroad. The PNB had alleged the company had diverted bank funds to the tune of Rs 2,240 crore. — TNS