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CBI REGISTERS CASE AGAINST PRIVATE COMPANIES, OTHERS INCLUDING ITS DIRECTORS, AND CONDUCTS SEARCHES

October 20, 2020 09:00 PM

Lucknow/Noida (Uttar Pradesh) (Face2News)

The Central Bureau of Investigation has registered a case on a complaint from Bank of India against two private companies based at Lucknow/Noida (Uttar Pradesh), its Directors and unknown others on the allegations of committing misappropriation, cheating and causing loss of Rs. 754.24 crore (approx.) to the consortium of banks.

It was alleged that the private company having its corporate office at Mahanagar, Lucknow was engaged in the construction of road, bridges and flyovers etc. It was further alleged that the company availed credit facilities from a consortium of banks led by Bank of India from time to time. It was also alleged that the company was supposed to route all its transactions through Trust & Retention Account and the company was not doing the same. It was further alleged that there were irregularities in the financial statements of the company.

Searches were conducted today at the premises of the accused/company at Noida and Lucknow which led to recovery of several incriminating documents. Investigation is continuing.

 
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