The Central Bureau of Investigation has registered a case on complaint from Union Bank of India, Ahmedabad against a Rajkot-based private company on the allegations of cheating Union Bank of India to the tune of Rs.44.64 crore. The accused in pursuance of conspiracy induced the Union Bank of India to sanction various credit facilities, including cash credit
The CBI has registered a case against Rajkot-based Mandeep Industries and its directors and partners for allegedly cheating the Union Bank of India to the tune of ₹ 44.64 crore, officials said on Monday.
It was alleged that during the period 2014 to 2020, the accused in pursuance of conspiracy induced the Union Bank of India to sanction various credit facilities including cash credit and term loans amounting to Rs.47.30 crore It was further alleged that the account of the borrower was later classified as Non-Performing Assets on Jan 15, 2020 due to non servicing of interest, thereby, causing a loss of Rs.44.64 crore to Union Bank of India.
Searches were conducted at seven places including at office and residential premises of the accused at Upleta and Rajkot which led to recovery of incriminating documents.
Besides the company, the CBI has booked its directors and partners Ashish B Talaviya, Kishorbhai H Vaishnavi, Ramjibhai H Gajera, Kalpesh Pravinbhai Talaviya, Bhavesh M Talaviya and unknown public servants and unknown others, they said.
“It was alleged that during the period 2014 to 2020, the accused in pursuance of conspiracy induced the Union Bank of India to sanction various credit facilities, including cash credit and term loans amounting to ₹ 47.30 crore (approximately),” CBI spokesperson RC Joshi said. The matter is under investigation.
