Mumbai, June 21: The Central Bureau of Investigation (CBI) has registered a case against a firm based in Mumbai and its partners for a bank fraud amounting to ₹62.42 crore. This case was initiated following a complaint from the Indian Bank, SAM branch, located in Mumbai.
The allegations state that the firm, along with other unidentified individuals, conspired to present false financial information and inflated debtor figures to the bank. Based on this misleading data, they secured excessive cash credit facilities from both the Indian Bank and another bank, resulting in a loss of approximately ₹62.42 crore to the bank.
Following the registration of the case, the CBI conducted raids on June 20 at various locations linked to the firm’s partners in Mumbai. This action was executed under a search warrant issued by a special court for CBI cases in Mumbai.
During the raids, several crucial documents related to the investigation were seized. Preliminary inquiries revealed information about debtors whose legitimacy is currently being verified. Additionally, documents related to alleged manipulation of debtor figures to obtain excess loans from the bank were also recovered.
The CBI has stated that the investigation is ongoing, and the roles of all individuals involved, whether officials or private persons, are being scrutinized. They are also looking into how the loan amounts were utilized.
In a separate case, the CBI announced its intention to challenge the Bombay High Court’s decision to acquit all accused in the murder case of Congress leader Pawanraje Nimbalkar and his driver. A special CBI court in Mumbai had previously acquitted all accused, including former Maharashtra Home Minister and ex-NCP MP Padamsingh Bajirao Patil, due to lack of evidence and benefit of the doubt.
Pawanraje Nimbalkar and his driver were shot dead in broad daylight on June 3, 2006, in Navi Mumbai. The case was later assigned to the CBI on the orders of the Bombay High Court.
The special CBI court’s acquittal of all accused has prompted the agency to seek redress in the Bombay High Court.
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