Bhopal (Madhya Pradesh): The Economic Offences Wing (EOW) has registered a case against a loan borrower and a machine supplier for allegedly cheating a nationalised bank of Rs 68.60 lakh in the name of setting up a dairy products manufacturing unit in Narsinghpur district, officials said on Friday.
Director general, EOW, Upendra Jain said that the branch manager of Punjab National Bank, Tendukhera branch in Narsinghpur district, had lodged a complaint in the matter.
According to the complaint, Hemraj Kirar had applied for a loan to establish a dairy products manufacturing unit and submitted a quotation worth Rs 97.72 lakh to the bank. Based on this, the bank sanctioned a loan of Rs 68.60 lakh for setting up the unit. As per the proposal, machinery for the unit was to be supplied by Soni Singh of Kanpur, and so the loan amount was transferred to Singh’s account.
However, during a site inspection, bank officials found that no unit had been set up at the stated location. Kirar told the officials that the unit had been established in Kanti district. When officials visited the new site, they found only two sections instead of the proposed six, and those too were non-functional.
Further scrutiny of the money trail revealed that while Rs 68.60 lakh was credited to Singh’s account, Rs 61.50 lakh was returned to Kirar’s accounts through multiple transactions, indicating diversion of funds.
