CBI registers FIR in 190-crore bank fraud case, raids 3 Delhi-NCR locations

Tribune News Service

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New Delhi, July 24

The Central Bureau of Investigation (CBI) on Friday said it has registered a case against two NCR-based steel and metal companies on a loan fraud complaint by Bank of Baroda and has conducted searches at three locations in Noida and Delhi.

According to official spokesperson of the agency, the CBI sleuths conducted searches after registering an FIR against Shri Sidhdata Ispat Pvt. Ltd., Govardhan Industries Pvt. Ltd., Shri Sidhdata Steel Tubes, Sudershan Tubes and others on a complaint by Bank of Baroda.

“It was alleged in the complaint that the accused cheated Bank of Baroda to the tune of Rs 190.76 crore (excluding interest) by way of availing various credit facilities, on the basis of submitting fake documents to the bank…,” the CBI spokesperson said.

It was also alleged that they diverted the funds fraudulently for the purpose other than they were sanctioned for, he added.

“Searches have been conducted today at two places in Noida (UP) and one place in Delhi which led to recovery of incriminating documents/material,” the spokesperson said.