Canara Bank alleges Rs 5 bn fraud by Kolkata-based R P Infosystems

The bank has made a complaint to the CBI

Canara Bank, after authorisation by a consortium of lenders, has made a complaint to the Central Bureau of Investigation (CBI) against a Kolkata-based computer assembler-integrator, R P Infosystems, alleging a Rs 5.15 billion fraud.

D V Prasad Rao, deputy general manager of the Kolkata circle of Canara Bank, alleged in the complaint R P Infosystems “failed and neglected to pay dues” to the lenders, despite repeated remainders. The company had manipulated its financial statements, and routed sale proceeds via the loan account, allegedly siphoning off the loan amount.

Canara Bank said in a statement, “Under a consortium arrangement of 17