Mumbai: SoBo firm booked by CBI in ₹ 12 cr bank fraud

Mumbai: The Central Bureau of Investigation (CBI) has registered a criminal offence against a Masjid Bunder-based company for allegedly duping Bank of Baroda (BoB) to the tune of Rs12.85 crore.

As per the agency, the bank alleged that on the request of the account holder, foreign outward remittances were affected for import of flower pots, flower mats and plastic torches.

The proprietor of the firm, who is a Bandra resident, submitted the bill of entries as a proof of import as supporting documents. However, these could not be verified and were found to be bogus and forged.
The CBI said that a written complaint was received in July 2020 from the bank’s Deputy General Manager and Regional Head Amit Tulli. As per his complaint, a current account was opened at the bank in the name of the firm in 2015. The credit entries (inward funds in the said account) were received through RTGS and were utilised towards remittance of imports.

The CBI said that the company, through its proprietor, allegedly connived with unknown public servants and defrauded the bank.

A case has been registered under sections 409 (criminal breach of trust by public servant, or by banker, merchant or agent), 420 (cheating and dishonestly inducing delivery of property), 465 (forgery), 467 (forgery of valuable security, will, etc), 468 (forgery for purpose of cheating) and 471 (using as genuine a forged document or electronic record) of the Indian Penal Code.