Ahmedabad: The Central Bureau of Investigation (CBI) has registered an FIR regarding bank fraud by a Gujarat-based rice company, in which the accused defrauded three banks to the tune of Rs 114.06 crore. According to the information, the CBI has registered a case against Nadiad-based Shree Jalaram Rice Industries Pvt Ltd and its directors Jayesh Tribhuvandas Ganatra and Bipin Tribhuvandas Ganatra on the complaint of Bank of Baroda, Corporation Bank and Union Bank of India on charges of fraud.
They committed this fraud between 2010 and 2015. The FIR said that the accused persons have been given various credit facilities under the Consortium of Banking. It was also alleged that the credit-taking company showed false book loans to motivate banks to approve credit facilities. The borrower reportedly embezzled the loan amount, causing a loss of over Rs 114.06 crore to Bank of Baroda, Corporation Bank and Union Bank of India.
CBI further said that searches have been conducted at six places including Ahmedabad, Nadiad, Bawla in Gujarat from where objectionable papers have been recovered. According to the CBI, the case is currently under investigation.