Bhopal (Madhya Pradesh): The Central Bureau of Investigation (CBI) has registered a case against a private company, private persons and unknown others on the allegations of causing a loss of Rs 63.71 crore (approx) to IDBI Bank, the officials said on Wednesday.
Searches were also conducted in Bhopal and Mumbai at the premises linked to the accused which led to recovery of incriminating property documents, hard disks and locker keys, etc.
It was alleged that the borrower company SPG Multitrade Pvt. Ltd and its promoters entered a conspiracy with others and cheated the bank by way of misappropriation of funds and criminal breach of trust and manipulation of books of accounts etc.
It was further alleged that the borrower company carried out fraudulent sales, purchase transactions, overstated receivables and trade payables, resulting in higher drawing power and submitted wrong drawing power statements.
An alleged loss to the tune of Rs.63.71 crore (approx) plus expenses and uncharged interest thereon was caused to the bank.
The case has been registered against Madan Lal Goyal, Prince Goyal, Shally Prince Goyal, Unknown public servant(s) and private persons.