CBI has registered an FIR against a Gujarat-based company for allegedly cheating Bank of Baroda to the tune of Rs 374.49 crore in the name of Line of Credit but not making any export against them.
The agency sources said ABC Cotspin, its Director Ashish Jobanputra, his wife Preeti and three officials of Bank of Baroda -- an Assistant General Manager, a Chief Manager and a Senior Manager -- have been named in the FIR registered under IPC sections related to cheating and provisions of the Prevention of Corruption Act.
The company is already facing CBI probe in another cheating case involving State Bank of India in which it allegedly cheated the bank to the tune of Rs 430 crore by submitting forged bills.
CBI said searches are being conducted today at three places -- two in Ahmedabad and one in Mumbai -- at the premises of accused.
The fresh case related to alleged cheating done in Bank of Baroda during 2014-15.
"It was further alleged that the private company was sanctioned a Packing Credit facility and also a facility for foreign bills purchase/discounting under Line of Credit," CBI Press Information Officer R K Gaur said.
Company Director Jobanputra did not respond to SMSs sent on his mobile number, which was provided by a staff member of the company.
The sources said 189 bills allegedly remained unpaid by the company.
They said the bank hired a Chinese legal firm to know the status of imports, they informed after checking warehouse details that there was no import from the company.
"On verification from the concerned authorities, it was found that no export had allegedly taken place against 184 bills. Further verification by a law firm engaged by the bank, found that stocks were allegedly unavailable in all the three warehouses in China indicated by the borrower," Gaur said.
