The Central Bureau of Investigation carried out raids at five official and residential premises of a private company and its promoters and directors in Uttar Pradesh’s Gautam Buddh Nagar, commonly known as Noida, and the Ghaziabad area on Saturday, in a case related to fraud for causing a wrongful loss of ₹126.07 crore to IDBI Bank Limited, CBI officials said in a press note shared with the media.
Incriminating documents and ₹ 28.50 lakh cash were recovered during searches on the premises of one of the directors of the company, the officials said. The searches were still in progress and more seizures were likely, the officials added.
Earlier, the CBI had registered a case, based on a written complaint from IDBI Bank Ltd against a private company and its promoters and directors, with unknown bank officials, on allegations that the accused entered into a criminal conspiracy to cheat and misappropriate the funds sanctioned by the bank. The complainant also alleged that the borrowers submitted forged documents as genuine to the bank, thereby inducing the bank to part with loan funds. Further, it was alleged that the borrower was declared a wilful defaulter and the account was reported as fraudulent for causing wrongful loss of ₹126.07 crore to the bank.
The officials further said the accused named in the FIR were the promoter and managing director of the company, Ram Kishor Arora, whole-time directors Sangita Arora, Mohit Arora, Parul Arora, Vikas Kansal, Pradeep Kumar and Anil Kumar Jain, residents of Gautam Buddh Nagar and another whole-time director Anil Kumar Sharma of Rajendra Nagar, Sahibabad, Ghaziabad.
{{/usCountry}}The officials further said the accused named in the FIR were the promoter and managing director of the company, Ram Kishor Arora, whole-time directors Sangita Arora, Mohit Arora, Parul Arora, Vikas Kansal, Pradeep Kumar and Anil Kumar Jain, residents of Gautam Buddh Nagar and another whole-time director Anil Kumar Sharma of Rajendra Nagar, Sahibabad, Ghaziabad.
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