New Delhi: In a nearly Rs 1400-crore loan scam case, the CBI has raided eight locations in several cities. The CBI has registered a case against former Kwality ice cream promoter Sanjay Dhingra and several other executives of the company. It is alleged that all of them have collectively charged a total of Rs 1400.62 crore to several banks. The CBI has raided eight of its hideouts on Monday to investigate the scam.
The CBI has raided a total of 8 locations of Kwality ice cream. CBI raided the company's premises and other hideouts of the accused in several cities including Delhi, UP's Saharanpur, Bulandshahr, Ajmer in Rajasthan, Haryana, Palwal. Banks that have been defrauded include Canara Bank, Bank of Baroda, Andhra Bank, Corporation Bank, IDBI Bank, Central Bank of India, Dhanlaxmi Bank and Syndicate Bank. It is alleged that the accused have committed this fraud by showing diversion of bank funds, forged documents, logistics, fake assets and liability etc.
Kwality Ice Cream Making Company Limited has been facing insolvency since 2018. They are in debt of Rs 2,000 crore. There have been several loan scams in the country before. Earlier, the Punjab National Bank (PNB) has been in the headlines over the Rs 14,600 crore scam by Nirav Modi and Mehul Choksi.
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