Punjab

CBI BOOKED PUNJAB BASMATI RICE LTD, BANK OFFICIALS, OTHERS FOR CAUSING LOSS OF 350 CRORES TO DIFFERENT BANKS

July 02, 2020 09:50 PM

  Chandigarh/Amritsar/ (Face2News)

The Central Bureau of Investigation (CBI) reported to have registered a case on a complaint from Canara Bank Chandigarh against M/s Punjab Basmati Rice Ltd. (Borrower company) and others including its Directors based at Amritsar, Punjab and other unknown persons and unknown bank officials for causing an alleged wrongful loss of Rs.174.89 crore to Canara Bank.

It was alleged in the complaint that the said accused had cheated the Canara Bank led consortium comprising Andhra Bank, Union Bank of India, Oriental Bank of Commerce, IDBI Bank, UCO Bank to the tune of Rs. 350.84 Crore (including Rs. 174.89 crore to Canara Bank) by disposing off the stock/prime security without any prior intimation/approval from the consortium lender banks.

CBI SEARCHES WEARING PPE KITS  

Searches are being conducted at the premises of accused Mr. Kulwinder Singh Makhani, Mrs. Jasmeet Kaur, Mr. Manjit Singh Makhani and the premises of the companies at Amritsar. All precautions were taken while conducting the searches. 

Searches are being conducted at the premises of accused Mr. Kulwinder Singh Makhani, Mrs. Jasmeet Kaur, Mr. Manjit Singh Makhani and the premises of the companies at Amritsar, Punjab. All precautions were taken while conducting the searches. PPE kits were provided to the search teams. Investigation is continuing.

 
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