The Economic Offences Branch (EOW) of the Central Bureau of Investigation (CBI) Mumbai has registered a case of cheating and forgery against a private company, which is manufacturing batteries and its officials for allegedly duping the Central Bank of India to the tune of over Rs 19 crore.
According to the CBI, the bank had given a written complaint on March 30, alleging that the accused company and its directors had cheated the bank to the tune of Rs 19.86 crore, in the matter of availing term loan and cash credit limits.
"The bank's complaint disclosed that during the period of 2010 to 2012, the accused persons entered into a criminal conspiracy with an intent to cheat the bank. The accused persons with fraudulent and dishonest intentions diverted the funds to the account of the associate companies and subsequently, misappropriated the same," said a CBI official.
He added, "In furtherance of the conspiracy, the accused persons through availed the funds from the bank, but with minified and dishonest intentions, did not create primary and collateral securities in favour of the bank. One of the group companies of the accused persons had already been declared fraud in the year 2013 and an FIR was registered by the CBI in 2014 against the said group company in a separate case."
The CBI has registered a case under sections 120B (criminal conspiracy), 420 (cheating and dishonestly inducing delivery of property), 468 (forgery for purpose of cheating) and 471 (using as genuine a forged document or electronic record) of the Indian Penal Code and relevant sections of the Prevention of Corruption Act.
"We have just registered the offence and would summon the persons named in the FIR to get their statements recorded in connection with the case. We are also probing if any bank officials were also involved in the fraud," said the official.