The CBI has recently booked three promoters of Ram Dev International for allegedly cheating a consortium of six banks (SBI, Canara Bank, Union Bank of India, IDBI, financial institution of India and Corporation Bank) to the tune of Rs 411 crore, The officials reported that that they had already fled the country before the depository financial institution of India reached the agency with the complaint on Saturday. The account had become NPA on January 27, 2016, but the complaint was filed four years later, in February 2020.
The company engaged in export of Basmati rice to the West Asian and European countries and its directors Naresh Kumar, Suresh Kumar and Sangita are booked by CBI on the idea of complaint from the SBI, which suffered the loss of quite Rs 173 crore.
The company had three rice milling plants, eight sorting and grading units in Karnal district with offices in Saudi Arabia and Dubai for trading purposes, the SBI complaint said. Allegedly, the borrowers removed entire machinery from old plant and fudged the balance sheets so as to unlawfully gain at the value of banks’ funds. The banks conducted a joint inspection of properties in August and October, nearly 7-9 months later only to seek out Haryana Police security guards deployed there. “On inquiry, it’s been come to note that borrowers are absconding and have left the country,” the complaint filed on February 25, 2020, the officials said.
CBI didn’t perform any searches due to the lockdown.
The agency will start the method of summoning the accused, just in case they are doing not join the investigation, appropriate action is going to be initiated, they said.
