Jammu, Nov 11: The Central Bureau of Investigations Jammu had registered an FIR under Sections 120B read with Sections 420,409 against Jammu based businessman and his firms for criminal conspiracy, cheating breach of trust and perpetration of fraud to the tune of Rs 18.10 crore with Bank of India, Satwari Branch, Jammu.
On the basis of a written complaint lodged with the Superintendent of Police, CBI, ABC, Jammu as Dy. Zonal Manager Bank of India, Amritsar Zone, Punjab, a regular case was registered against accused M/s I D Sood Ispat Pvt. Ltd, Raj Kumar Gupta, Director, M/s I D Sood Ispat Pvt. Ltd., Rajat Mahajan, Director, M/s I D Sood Ispat Pvt. Ltd., (Guarantor), M/s New Jhelum Flour Mills Pvt. Ltd, Jhelum Industries (Partnership firm) (Guarantor), M/s S K Kharkia & Associates (Auditor of M/s Jhelum Infra Projects India Pvt Ltd and other unknown persons for cheating Bank of India to the tune of Rs 18.10 crore by availing the credit facilities, diverting the funds and willfully defaulted the repayment to the bank.
The account of M/s I D Sood Ispat Pvt Ltd was classified NPA on March 31, 2015 by the bank and a preliminary investigation revealed a clear cut case of diversion of Bank’s funds and willful default by the firm and its directors. Subsequently, account was declared fraud on the basis of forensic audit report dated 06-09-2016 conducted by M/s Satya Prakash Mangal & Co. in the group account of JIPIPL.
It is pertinent to mention here that it was reported that CBI teams from Special Task Branch, New Delhi have conducted raids at multiple places in Jammu, HP and Jharkhand at industrial premises, mills and residence of Raj Kumar Gupta, Radhika Mahajan, and Rajat Mahajan, all residents of 37 F B/C Gandhi Nagar for fraud of Rs 105 crore with Bank of India Satwari Branch Jammu and two FIRs No. RC/DST/2019/A/ 0003 and RC/DST/2019A/2004 dated 26-08-2019 were registered for loan fraud of Rs 33.83 crore and Rs 39.07 crores against the same accused persons and their firms.
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