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Loan fraud: Court closes case against BJP leader Mohit Kamboj
Bhartiya’s lawyer Faiz Merchant said that during the probe they submitted all the documents before the agency. “During the probe which went on for almost two years, we explained our side to the agency and submitted all the relevant documents and evidence to support our claim. The agency accepted our defence and closed the case,” Merchant said.
Mumbai: A special court on Friday accepted a CBI report which sought to close a case against BJP leader Mohit Kamboj Bhartiya for allegedly causing a loss of ₹57.26 crore to Bank of India. Special CBI judge SM Menjoge accepted the closure report after the public sector bank gave no objection to closing the case.
Bhartiya’s lawyer Faiz Merchant said that during the probe they submitted all the documents before the agency. “During the probe which went on for almost two years, we explained our side to the agency and submitted all the relevant documents and evidence to support our claim. The agency accepted our defence and closed the case,” Merchant said.
In June 2020, the CBI registered a case against Avyaan Overseas Pvt Ltd, now known as Bagla Overseas Pvt Ltd, its managing director Kamboj and four others.
According to the bank’s complaint, the loan account had turned into a Non-Performing Asset (NPA), and parts of the loan had allegedly been diverted towards the purchase of a property in Bandra, which was a non-specified usage of the loan facility.
According to the bank, in August 2018, they sanctioned credit facilities of up to ₹60 crore to Avyaan Overseas, incorporated in January 2013 as a gold jewellery maker and exporter, on its request. The credit was to be availed towards the ‘export packing credit limit’ and ‘foreign bill purchase/negotiation’. A loss of ₹57.26 crore was caused to it, the bank had claimed.
According to the bank, a forensic audit was conducted on the firm in March 2017, according to which the latter had allegedly diverted funds for the purchase of flat/property in Bandra in the name of the family member of one of the directors through “payments to undisclosed parties.”
The bank further alleged that many of the firm’s directors resigned after the account turned into an NPA. The bank’s competent authority declared the account fraudulent in June 2018.
The bank had first filed a complaint with the Economic Offence Wing of Mumbai police. Later, it withdrew saying that the bank falls within the central government, hence, the case has to be lodged with CBI.
