New Delhi, Jan 3 () The Central Bureau of Investigation (CBI) on Tuesday filed a chargesheet before a special CBI court in Mohali, Punjab, against a private company based out of Ludhiana and others, includings three of its directors, statutory auditor and its two group concerns, in a case related to bank fraud of Rs 1,530.99 crore.
The CBI registered the case on August 6, 2020 against Ludhiana-based SEL Textiles Ltd, its directors Neeraj Saluja, Dhiraj Saluja, Navneet Gupta, partner Ram Dass Khanna, Dass Khanna & Co. (statutory auditor of SEL Textiles Ltd) and its group concerns, namely Rhythm Textiles & Apparels Park Ltd and Silverline Corporation Ltd.
There were allegations that the accused had cheated a consortium of 10 banks led by the Central Bank of India, causing a fraud of Rs 1530.99 crore. Huge amounts of bank loans were diverted by the accused to their related parties and subsequently adjustment entries were made.
The accused had shown procurement of machineries from non-reputed suppliers and thereby over-invoiced the bills. Huge amount of primary security against CC limits, i.e., stocks, finished goods etc., were allegedly disposed of by the accused to misappropriate bank money, as sales proceeds of goods sold were not deposited with the bank.
The said private company was into the business of manufacturing of yarns and fabrics.
Searches were conducted on August 14, 2020 at the premises of the accused persons, which led to the recovery of several incriminating documents.
atk/arm