New Delhi: The Central Bureau of Investigation (CBI) has taken major action against a company in Indore in a Rs 180.15 crore fraud case from the State Bank of India (SBI). A number of objectionable documents have been recovered by the firm and its directors hitting a total of nine locations in Indore and Jodhpur in Rajasthan.
On Thursday, SBI spokesperson RK Gaur told that State Bank of India has set up Indison Agro Foods Pvt Ltd of Indore and had complained of fraud against its directors Vijay Kumar Jain, Mahendra Kumar Jain, Devraj Jain and unknown public servants. CBI raid a total of nine locations of the accused. Objectionable documents have been recovered in these raids, which shows that the company and its directors have siphoned more than 180 crores to SBI.
According to CBI, Indison Agro Foods Pvt. Ltd was involved in the business of import-export of pulses to European and Middle-East countries. The company started business in 2003. He was provided with a loan facility in 2013 by a group of banks led by SBI - Allahabad Bank, IDBI Bank, State Bank of Patiala. A year later, since 2014, the company's CC (debt) account became irregular. Finally, in 2015, it was declared a bad debt (NPA). Now Indison Agro Foods Pvt Ltd is under investigation. The fraud of the company and its directors is being exposed. Some people have been detained in this case.
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