New Delhi, September 21:
On Monday, the CBI was accused of cheating a group of banks worth Rs 1,400 crore in a case of fraud by CBI, a dairy product manufacturer. The investigating agency has named the quality and its directors in the case after searching eight locations in Delhi.
Those nominated by the CBI include Kwality directors Sanjay Dhingra, Siddhant Gupta and Arun Srivastava.
The CBI began its investigation on a complaint by the Bank of India.
“It was alleged in the complaint that the said accused cheated the consortium led by Bank of India including Bank of India, Canara Bank, Bank of Baroda, Andhra Bank, Corporation Bank, IDBI, Central Bank of India, Dhanalakshmi Bank, Syndicate Bank was involved. According to Press Trust of India, CBI spokesperson RK Gaur said that 1400.62 crores was Rs.
According to Mr. Gaur, he allegedly defrauded banks through “diversion of bank funds, quarrel transactions with related parties, fabricated documents or receipts and fake books of accounts” and created false assets and liabilities.
Apart from Delhi, the CBI also conducted searches in Saharanpur and Bulandshahr in Uttar Pradesh, Ajmer in Rajasthan and Palwal in Haryana.
Kwality Limited, once one of India’s oldest and most popular ice cream makers, has been facing insolvency proceedings since December 2018. It owes creditors about Rs 1,900 crore.
