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Posted at: Feb 28, 2018, 8:15 PM; last updated: Mar 1, 2018, 2:12 AM (IST)

CBI books Kolkata computer company for Rs 515 cr bank fraud

CBI books Kolkata computer company for Rs 515 cr bank fraud
The company and its directors are believed to have taken loans against forged documents.

New Delhi, February 28

The Central Bureau of Investigation (CBI) has booked a Kolkata-based computer company, RP Info Systems, and its directors for allegedly cheating a consortium of banks to the tune of Rs 515.15 crore, officials said.

The directors of the company, Shivaji Panja, Kaustuv Ray and Vinay Bafna, cheated Canara Bank and nine other consortium member banks to the tune of Rs 515.15 crore.

The CBI conducted searches at the residence of the suspects and their corporate office in Kolkata, sources said.

It is not the first time that the company has had a brush with law: the CBI had booked it in 2015 for cheating IDBI bank—which was ones the leader of the consortium but has since relinquished its position— to the tune of Rs 180 crore.

The other banks on the list were State Bank of India; State Bank of Bikaner and Jaipur; State Bank of Patiala (both now part of the SBI); Union Bank of India; Allahabad Bank; Oriental Bank of Commerce; Central Bank of India; Punjab National Bank; and Federal Bank.

The company and its directors are believed to have taken loans against forged documents.

In its complaint on February 26—now part of the FIR—the bank has alleged that the company, which manufactured computers under brand name Chirag, had take loans from 2012 onward. The loans have since become NPAs.

The banks have said that the company manipulated financial statements and did not route sale proceeds through the loan account.

"During 2013, IDBI Bank relinquished their position as consortium leader after the deliberations with RBI. It is learnt that in the month of December 2013, IDBI Bank lodged a complaint regarding the fraud committed on their bank alone to the CBI and the CBI investigated only their exposure of IDBI Bank," a complaint by Canara Bank said. PTI

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