CBI books Ludhiana firm for Rs 1,531-cr bank loan fraud
New Delhi, August 17
The Central Bureau of Investigation today said it had booked Ludhiana-based SEL Textiles Ltd and its directors for allegedly defrauding a consortium of 10 banks of Rs 1,530.99 crore.
Officials said the directors of the conglomerate (Ram Sharan Saluja, Neeraj Saluja and Dhiraj Saluja) had been named as accused in the FIR, along with unidentified persons.
The action came on a complaint by the Central Bank of India that alleged the accused indulged in criminal conspiracy to defraud banks and divert loan funds between 2009 and 2013, causing a loss of Rs 1,530.99 crore to the banks. — TNS
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