The Central Bureau of Investigation (CBI) on Wednesday carried out searches in connection with a case against two Mumbai-based companies and others for allegedly cheating the Bank of India of over ₹57 crore.
“Searches have been conducted at five places in Mumbai, on the residential and official premises of the accused,” said a CBI official. Those named in the case are Avyaan Overseas Private Limited (now known as Bagla Overseas Private Limited), its managing director Mohit Kamboj, and Jitendra Gulshan Kapoor, Siddhant Bagla and Irtesh Mishra (all directors). Another company, KBJ Hotels Goa Private Limited is also named in the case.
Mr. Kamboj is the general secretary of the Bharatiya Janata Party’s Mumbai unit.
Avyaan Overseas is alleged to have conspired with unknown bank officials to cheat the bank between 2013 and 2018. The company was sanctioned foreign bills negotiation limit and export packaging credit limit, for which it got ₹ 60 crore.
In February 2015, bank officials inspected the company records and found that sale proceeds were not being routed through the bank, and it was raising bills on sister concerns. Its sale export proceeds were not getting realised. Stock was shown in the godown, but no proper records were maintained.
The loan account was declared NPA in March 2015. A forensic audit was also ordered. The report flagged several issues, including alleged diversion of funds for acquiring property. Forged documents were also allegedly used to evade detection.
Published - June 17, 2020 11:57 pm IST
