A private company has been booked by CBI for allegedly causing a loss of nearly Rs 34 crore to State Bank of India by not making loan payments, even as the agency conducted searches at multiple locations of officials related to the firm.
CBI sources said Vardhman Life Sciences Private Ltd had allegedly taken a loan of around Rs 175 crore from four national banks --Rs 40 crore from SBI, Rs 40 crore from State Bank of Hyderabad, Rs 40 crore from State Bank of Patiala and Rs 55 crore from Exim Bank.
Of the four banks, only SBI has complained of loan default to the tune of Rs 34 crore by the company, they said.
The sources said it has been alleged that the loan was taken by the Chandigarh-based company to set up a plant in Cuddalore, Tamil Nadu, but the money was diverted to personal accounts. The complaint alleged that inspection of plant was also manipulated by installing used machinery etc.
CBI spokesperson R K Gaur said a case has been registered against the company, its promoter directors, unknown officials of the bank has been registered under IPC sections of criminal conspiracy, cheating, forgery among others besides provisions of Prevention of Corruption Act.
Promoter directors Suyog Jain, R S Gujral, Vivek Gupta, former directors S K Singla, R K Goya, Pramod Jain, Sandeep Agrawal and two employees, Sandeep Agrawal and Akshat Rana, have been named in the FIR.
"It was alleged in the complaint that the accused persons in connivance and criminal conspiracy with the branch officials had siphoned off the bank funds by misrepresentation, fabrication and forgery of documents and falsification of financial records. An alleged loss of Rs 33.79 crore (approx) was caused to the bank," Gaur said.
He said searches were conducted at eight locations in Delhi, Chandigarh and Cuddalore (Tamil Nadu) at the premises of accused persons and others which led to recovery of incriminating documents.
