Ludhiana The Central Bureau of Investigation (CBI) has booked a prominent liquor baron, Charanjit Singh Bajaj, his wife, Gurdeep Kaur, and unidentified public servants of defrauding the State Bank of India (SBI) to the tune of ₹74 crore by siphoning off and diversion of loans meant for dairy units.
The registered address of Bajaj as in the FIR is M/s Pure Milk Private Limited, 36-A, Sarabha Nagar Ludhiana. Jagdish Lal, working as deputy general manager, Stressed Assets Management Branch, Zonal Office Building, Fountain Chowk, Civil Lines Ludhiana, is the complainant. The fraud came to light during forensic audit of the account and a report submitted on November 11, 2018.
The FIR adds that the accused siphoned off funds by misusing the term loans by making payments to firms/companies and not purchasing any fixed assets. Books of accounts were also fudged to enjoy higher credit facilities, the complainant alleged.
A case has been registered under Sections 420 (cheating), 467 (forgery of valuable security), 468 (forgery for cheating), 471 (using as genuine a forged document) and 120 (concealing design to commit offence punishable with jail) of the IPC.