Mumbai: Realty firm, promoters booked by CBI in Rs 30 cr bank fraud case

As per the CBI, the accused have committed various offences including that of criminal breach of trust, fraud, siphoning of funds, diversion of funds, criminal misappropriation and cheating on the Bank

Somendra SharmaUpdated: Sunday, June 19, 2022, 06:33 PM IST
article-image
ANI

The Central Bureau of Investigation (CBI) has filed a case against M/s Pune Buildtech Pvt Ltd and its promoters for allegedly defrauding Punjab National Bank (PNB) of Rs 30.13 crores between 2013-16. As per the CBI, the accused have committed various offences including that of criminal breach of trust, fraud, siphoning of funds, diversion of funds, criminal misappropriation and cheating on the Bank.

According to the CBI, a complaint dated June 16, 2022 was received from Bina G. Narula, Assistant General Manager, PNB, Mumbai, wherein it had been alleged that M/s Pune Buildtech Pvt Ltd (PBPL) situated in Goregaon (E), through its Directors in conspiracy with unknown persons and public servants with an intent to cheat/defraud the bank availed the Term Loan of Rs.30.13 crores and caused wrongful loss of Rs.30.13 crores to the PNB by siphoning off and diversion of funds, thus causing wrongful gains to themselves and corresponding wrongful loss to the bank.

"PBPL (formerly known as Dynamix Balwas Resorts Pvt Ltd) was incorporated with an objective to construct five star hotels and resorts. PBPL had planned to construct a five star hotel in Yerwada, Pune on the plot measuring 14,368 sq. meters. This project was financed by PNB (Rs 102 crore) & erstwhile Allahabad Bank (now Indian Bank) (Rs 102 crore). Our bank has disbursed Rs 30.50 crore till Jan 2011. Thereafter, the project has been delayed due to delay in obtaining clearance from Pune Municipal Corporation. Further, disbursement was stopped by the bank. There have been no construction activities in progress since 2011," PNB's complaint to the CBI had stated.

The account has been declared fraud by the complainant bank on the grounds of diversion and siphoning of funds and the same has been reported to Reserve Bank of India on March 22, 2021 for fraud amount Rs 30.13 crore, the CBI's FIR stated.

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Days after sharing social media post in support of Nupur Sharma, man beheaded in Udaipur's Maldas...

Days after sharing social media post in support of Nupur Sharma, man beheaded in Udaipur's Maldas...

Maharashtra: 7 more patients of BA.5 and 2 of BA.4 sub-variant of Omicron detected, tally rises to...

Maharashtra: 7 more patients of BA.5 and 2 of BA.4 sub-variant of Omicron detected, tally rises to...

Mumbai helicopter mishap: Four persons, including 3 ONGC employees die

Mumbai helicopter mishap: Four persons, including 3 ONGC employees die

Maharashtra political crisis live update: I'll be in Mumbai soon; 50 MLAs are with us, says Eknath...

Maharashtra political crisis live update: I'll be in Mumbai soon; 50 MLAs are with us, says Eknath...

Kurla building collapse: Death toll rises to 14, 27 injured; three admitted

Kurla building collapse: Death toll rises to 14, 27 injured; three admitted