The Central Bureau of Investigation (CBI) has launched an investigation against an Amravati-based company and its directors for allegedly duping Canara Bank to the tune of ₹29.83 crore.
CBI had received written complaint in 2021 from Canara Bank
According to the CBI, a written complaint dated May 31, 2021, had been received by the CBI from Subodh Kumar, General Manager, Canara Bank, Pune, against a private company, which is into the business of manufacturing of compact yarn spinning and open ended spinning.
“It has been alleged in the complaint that the company and its directors in connivance with other unknown public servants and unknown private persons, entered into a criminal conspiracy to cheat and thereby cheated the complainant bank by way of misappropriation, diversion, round tripping and siphoning of funds and forgery of documents. Thereby, causing wrongful loss to the tune of ₹29.83 crore to Canara Bank and wrongful gain to themselves," said a CBI official.
Forensic audit showed large no of fraudulent transactions
The bank in its complaint alleged, “The forensic audit conducted had shown a large number of fraudulent, preferential, undervalued transactions done by the company. The audit also provided details of non-availability of the closing stocks, dummy purchases made by the company. The account was reported as fraud to the RBI by the bank in August 2020.”
The Government of Maharashtra vide its notification on October 21, 2020, had withdrawn its general consent to members of Delhi Special Police Establishment Act. Therefore, CBI, had sent a letter dated 16.06.2022 to the Additional Chief Secretary, Department of Home, Government of Maharashtra, to accord consent in this specific case under DSPE Act, to register and to investigate the matter by CBI. The Govt. of Maharashtra vide its notification dated 21.10.2022, accorded general consent to members of Delhi Special Police Establishment Act, to register and investigate the case.
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