News Nation Logo

Rs 2,240 crore fraud: CBI arrests four for allegedly cheating banks

Four Directors Of Surya Vinayak Industries Limited Were On Wednesday Sent To 10 Days CBI Custody By A Delhi Court For Allegedly Cheating Consortium Of Banks To The Tune Of Rs 2240 Crore.

News Nation Bureau | Edited By : Bindiya Bhatt | Updated on: 12 Apr 2017, 05:53:50 PM
(Representational picture)

New Delhi:

Four directors of Surya Vinayak Industries Limited were on Wednesday sent to 10 days CBI custody by a Delhi court for allegedly cheating consortium of banks to the tune of Rs 2240 crore.

Sanjay Jain, Rajiv Jain, Rohit Chaudhary and Sanjeev Agarwal, who were arrested on the complaint of Punjab National Bank (PNB), were sent to custody till April 22 by Chief Metropolitan Magistrate Sumit Dass.

CBI had arrested the four accused on Wednesday for allegedly using more than 100 shell companies for routing and diversion of bank funds.
The firm and the shell companies had no genuine business transactions, the CBI sources had said.

The PNB has alleged that the company had diverted bank funds to the tune of Rs 2240 crore, which resulted in loss to the consortium.

ALSO READ | 2,000 accounts were opened in SBI to channelise black money, found CBI

Over Rs 300 crore of working capital was also allegedly moved to six companies set abroad, it said. 

ALSO READ | Money laundering case: CBI registers preliminary enquiry against Delhi health minister Satyendra Jain

(With inputs from PTI)

For all the Latest India News, Download News Nation Android and iOS Mobile Apps.

First Published : 12 Apr 2017, 05:49:00 PM