CBI books Supertech, promoter RK Arora over ₹126 crore worth IDBI Bank fraud
The CBI case is based on a complaint from the IDBI bank, which alleged that the accused conspired to commit fraud and misappropriate sanctioned loan money.
The Central Bureau of Investigation registered a case against Noida-based construction firm Supertech Limited and its promoter, RK Arora, for allegedly defrauding IDBI Bank to the tune of ₹126.07 crore, officials said.
The FIR names the firm and Arora, along with the firm's full-time directors Sangita Arora, Mohit Arora, Parul Arora, Vikas Kansal, Pradeep Kumar, Anil Kumar Sharma, and Anil Kumar Jain.
The central agency on Saturday carried out search operations at five locations linked to the accused, including official and residential premises in Noida and Ghaziabad, news agency PTI reported.
The agency's spokesperson said in a statement that during these raids, CBI officials seized cash worth ₹28.5 lakh.
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The CBI case stems from a complaint registered by the IDBI bank, wherein it was alleged that the accused conspired to commit fraud and misappropriate sanctioned loan money.
The central probe agency said the loan account was subsequently termed a wilful default and categorised as fraudulent. The fraud allegedly resulted in wrongful losses of ₹126.07 crore to the IDBI Bank Ltd.
However, Supertech has not released any statement in this regard.
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Earlier in April, the Supreme Court had directed the CBI to register seven preliminary enquiries to probe the nexus between builders and banks under subvention schemes.
The agency was told to probe several Supertech projects and the roles of banks which provided loans for their housing projects in the national capital region (NCR) and other states.
