CBI files case against private sugar company, officials for bank fraud
New Delhi: The CBI on Sunday registered a bank fraud cases against a Uttar Pradesh based private sugar company, its top officials along with unknown bank officials for allegedly causing loss of Rs 109 crore to Oriental Bank of Commerce, officials said.
According to Central Bureau of Investigation (CBI) officials, the Hapur-based Simbhaoli Sugars Ltd in 2011 fraudulently diverted funds received as loans for sugarcane farmers and self help groups.
CBI also conducted searches at offices of the company and residences of its officials at eight places, including one location each in Hapur and Noida, and six locations in Delhi.
"Searches are being conducted at eight premises including residences of Directors, factory, corporate office and registered office of the company in Delhi, Hapur and Noida," CBI spokesperson Abhishek Dayal told IANS.
The agency has named the company's Chairman and Managing Director, its Directors, CEO, Chief Financial Officer and unknown bank officials and other private persons, under charges of criminal conspiracy, cheating, forgery slapping sections under Prevention of Corruption Act for causing loss to the bank.
Officials said that the Bank sanctioned a loan amounting to Rs 148.60 crore in 2011 to the private company for financing individual, Joint Liability Groups, Self-Help Groups under the tie-up arrangement under the RBI Scheme to 5,762 sugarcane farmers supplying sugar produce to said private company during the period from January 25 to March 13, 2012. It has been alleged that the company has diverted funds for personal use.
According to complaint, the account turned Non Performing Asset (NPA) on March 31, 2015 and was later declared as alleged fraud by the bank to RBI on May 13, 2015 for an amount of Rs 97.85 crore.
It was further alleged that in addition to the existing NPA as on March 31, 2015, the bank, under multiple banking arrangements, had sanctioned another corporate loan of Rs 110 crore to the sugar company on January 28, 2015, to pay its outstanding loan of Rs 97.85 crore, and adjusted the total liability of Rs. 112.9 crore of said private company on June 30, 2016 by way of deposit of this new corporate loan.
The corporate loan, too turned into an NPA on November 29, 2016, thus resulting in its first outstanding loan of Rs 97.85 crore (as alleged fraud) and the corporate loan of Rs 109.08 crore (as fresh outstanding).
CBI is now investigating the matter, officials said.
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Woman shot dead in Delhi; police suspect link to 2023 murder of her husband
New Delhi (PTI): A 44-year-old woman was shot dead at point-blank range in northwest Delhi's Shalimar Bagh on Saturday, with police suspecting the killing to be a fallout of the 2023 murder of her husband, an official said.
The deceased was identified as Rachna Yadav, a resident of Shalimar Bagh and the resident welfare association (RWA) president of her locality. According to police, she was shot in the head and died on the spot.
Police said Rachna was originally from Bhalswa village in north-west Delhi. Investigators suspect that the murder is linked to the killing of her husband, Vijendra Yadav, who was shot dead in 2023. The case concerning that murder is currently under trial.
"In the 2023 case, Vijendra Yadav was allegedly murdered due to previous enmity. Bharat Yadav and five others were named as accused. While five of the accused were arrested and are facing trial, the main accused, Bharat Yadav, is still absconding and has been declared a proclaimed offender," a senior police officer said.
Police said Rachna was the main witness in her husband's murder case, and her testimony was considered vital for the prosecution. Investigators believe her killing may have been aimed at weakening the case and intimidating other witnesses.
CCTV footage has surfaced in the Rachna Yadav murder case, clearly capturing the accused who allegedly shot her. Police said the assailant's accomplice was already waiting nearby on a sports bike bearing a Delhi registration number, facilitating a swift escape, according to an official.
Police said a PCR call was received at around 10.59 am at Shalimar Bagh police station, reporting that a woman had been shot.
Local police teams rushed to the spot and found Rachna lying on the road in a pool of blood. An empty cartridge was recovered from the scene, officials said.
According to the investigation, when Rachna was returning after meeting a neighbour, two assailants intercepted her. One of them allegedly stopped her and asked her name. When she identified herself, the attacker pulled out a firearm and shot her in the head before fleeing the spot along with his accomplice, police said.
Preliminary inquiry suggested that the woman was targeted, and the assailants appeared to have prior knowledge about her identity and movements.
"Crime Team and FSL teams were immediately called, and the scene of the crime was thoroughly examined. CCTV footage from nearby areas is being scanned to identify the assailants," Additional Commissioner of Police (Northwest) Bhisham Singh said.
Prima facie, it appears that the present case is linked to the earlier murder, he said. "We are re-examining all aspects of the 2023 case and the role of the proclaimed offender (Bharat)," Singh said, adding that multiple teams have been formed to trace the shooters and those who may have masterminded the crime.
Speaking to reporters, Kanika Yadav, the deceased's elder daughter, alleged that the murder was planned by Bharat.
"Some of the accused in my father's murder case are lodged in Tihar Jail. Despite that, they are planning such crimes. Bharat Yadav planned and executed my mother's murder," she alleged.
Kanika claimed her mother was killed because she was standing firm as a witness in her father's murder case.
"They were afraid that they would be convicted on the basis of her statement. That is why my mother was killed. My father was murdered in 2023, and the case is still pending before the court," she said.
Police said Rachna is survived by two daughters, one of whom is married, while the younger daughter lived with her. Security has been stepped up in the area, and further investigation is underway, police added.
