Gandhinagar: The Central Bureau of Investigation (CBI) has lodged a case of fraud against the promoters of a Rajkot-based oil extraction firm for allegedly defrauding the Union Bank of India of a staggering Rs 44.64 crore.
An official press statement by the premier crime investigating agency stated that a First Information Report (FIR) had been lodged against Mandeep Industries for defaulting on cash credit and term loans taken from the PSU bank between 2014 and 2020.
Significantly, the FIR lodged in state capital Gandhinagar has also mentioned unidentified public servants among the accused, besides the company’s directors, Ashish Talaviya, Kishorbhai H Vaishnavi, Ramjibhai H Gajera, Kalpesh Talaviya and Bhavesh M Talaviya.
The CBI statement said, “It was alleged that during the period 2014 to 2020, the accused in pursuance of a conspiracy induced the Union Bank of India to sanction various credit facilities including Cash Credit and Term Loans amounting to Rs.47.30 crore(approx).”
“It was further alleged that the account of the borrower was later classified as a non-performing asset on 15.01.2020 due to non-servicing of interest/installments, thereby, causing a loss of Rs.44.64 crore to the Union Bank of India,” the statement added.
It said searches were conducted at seven places, leading to the recovery of a huge pile of incriminating documents.
It might be recalled that the CBI action has come after the Ellisbridge branch (Ahmedabad) of the Union Bank of India on July 22, 2021, announced an auction of the assets of Mandeep Industries and its directors for defaulting on the credit taken.
