Tribune News Service
Chandigarh, February 26
The Central Bureau of Investigation (CBI) has registered a case on a complaint from Canara Bank, Main Branch, Rohtak, Haryana, against a private company based in Rohtak and its directors and other unknown persons and public servants on the allegations of bank fraud of Rs 176.28 crore.
According to the CBI, the list of accused included Lakshmi Precision Screws Ltd along with its directors Lalit K Jain, Rajesh Jain and Vijay Kumar Jain and mortgagors of property Nilikesh Jain and Saurav Jain.
It has been alleged that the private company through its directors had defrauded the consortium of banks by misrepresentation and false documents making diversion of funds, disposing of the mortgaged properties without the consent of banks. An alleged loss of Rs 176.28 crore was caused to the consortium of banks, Canara Bank and State Bank of India.
The accused private firm was incorporated on December 27, 1968, as a private limited company and was converted to a public limited company on August 20, 1971. It was engaged in the manufacturing of high-tensile fasteners. Searches were conducted today at five places, which led to recovery of incriminating documents, said the CBI in a press statement.
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