Central Probe Company Fees Non-public Company, Administrators In Mortgage Fraud Case
Central Bureau of investigation stated the accused diverted budget, manipulated books of accounts (Document)
New Delhi:
The Central Bureau of Investigation (CBI) has charged Parikh Materials Non-public Restricted and its administrators for alleged defaulting on mortgage value Rs 173.76 crore 9 years in the past in a consortium led by means of the State Financial institution of India, officers stated on Thursday.
After charging the corporate and its administrators Nikhil B Parikh and Rita Parikh, the CBI has performed searches at two places in Hyderabad and one in Chennai, they stated.
The account of the corporate which had availed credit score amenities from the most important public sector financial institution from 2013 to 2010 used to be declared a non-performing asset on August 30 in 2011, CBI spokesperson RC Joshi stated.
“It used to be additionally alleged that the accused diverted budget and manipulated books of accounts, inflicting loss to the music of Rs 173.76 crore (roughly) to the financial institution,” he stated.
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