CBI Fees Textiles Primary With Rs 1,245 Crore Financial institution Fraud
The corporate allegedly misused/diverting financial institution finances from 2012 to 2018. (Representational)
New Delhi:
The CBI has booked textiles main S Kumars National Restricted (SKNL) and 14 others together with its promoters and administrators for an alleged financial institution fraud value Rs 1,245 crore, officers stated Wednesday.
Following registration of the FIR, the central company on Wednesday searched 13 places in Maharashtra, Gujarat and West Bengal related to the accused and recovered “incriminating paperwork”, CBI Spokesperson RC Joshi stated.
He stated the corporate was once engaged within the trade of producing high-value tremendous cotton materials and residential textiles.
The corporate had availed credit score from a consortium of banks led by way of IDBI financial institution.
Joshi stated promoters/administrators of the corporate had been booked for allegedly “misusing/diverting the financial institution finances right through the duration 2012 to 2018” which ended in lack of about Rs 1,245.15 crore to the banks.
“The grievance was once filed by way of the IDBI Financial institution Ltd. and likewise on behalf of 4 different member banks of the consortium, specifically, Central Financial institution of India, The Jammu & Kashmir Financial institution Ltd., Punjab Nationwide Financial institution and Indian Financial institution,” he stated.
(Aside from for the headline, this tale has now not been edited by way of TTN NEWS team of workers and is revealed from a syndicated feed.)
