The Central Bureau of Investigation (CBI) on Wednesday registered a case against directors and promoters of a private company following a complaint by the Colaba branch of IDBI Bank alleging that the company caused a loss of over ₹1,245 crore to a consortium of banks led by IDBI Bank. The agency on Wednesday also conducted searches at 13 locations, including residences and offices of the accused, in Maharashtra, Gujarat, and West Bengal, and seized incriminating documents, a CBI official said.
Agency officials said the private company was engaged in manufacturing high-value fine cotton fabric and home textiles.
As per the complaint, the directors and promoters of the company, in conspiracy with others, committed fraud by availing of various credit facilities and taking loans from a consortium of banks led by IDBI Bank and then allegedly diverted the bank funds between 2012 and 2018, and eventually caused a loss of around ₹1,245.15 crore to the banks, CBI said in a release.
The complaint was filed by IDBI Bank and also on behalf of four other members of the consortium - Central Bank of India, Jammu and Kashmir Bank, Punjab National Bank, and Indian Bank.
The case has been registered against S. Kumars Nationwide Ltd., which has manufacturing units at Dewas in Madhya Pradesh, Jhagadia Industrial Estate at Bharuch in Gujarat, and the registered office in Mumbai.
The agency has booked the company’s directors and promoters and also a private person who are identified as Nitin Sambhu Kumar Kasliwal, Vijay Goverdhandas Kalantri, Anil Kumar Channa, Rajinder Krishan Garg, Jagadeesh Sanjeeva Shetty, Dara Dinshaw Avari, Suresh Narasappa Talwar, Navin Sambtani, Pradeep Kariyattu, Bhaskaran Kumar, Yogesh Himatlal Patel, Uday Jayavanth Kamath, Vanraj Vinodchandra Shah, Haresh Milyomal Israni and Sunil Kumar Jain, along with unknown public servants.
{{/usCountry}}The agency has booked the company’s directors and promoters and also a private person who are identified as Nitin Sambhu Kumar Kasliwal, Vijay Goverdhandas Kalantri, Anil Kumar Channa, Rajinder Krishan Garg, Jagadeesh Sanjeeva Shetty, Dara Dinshaw Avari, Suresh Narasappa Talwar, Navin Sambtani, Pradeep Kariyattu, Bhaskaran Kumar, Yogesh Himatlal Patel, Uday Jayavanth Kamath, Vanraj Vinodchandra Shah, Haresh Milyomal Israni and Sunil Kumar Jain, along with unknown public servants.
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