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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Rowdy-Sheeter Ganesh Poojary detained under Goonda Act in Udupi
Udupi: Police in Udupi have detained a rowdy-sheeter, Ganesh Poojary (48), a resident of Kaudoor village, under the provisions of the Goonda Act.
The action was taken following a report submitted by Udupi Superintendent of Police Hariram Shankar. Based on the recommendation, Deputy Commissioner Swaroop T.K. issued the detention order on April 4. The accused has been lodged in the central prison in Kalaburagi as per the order.
According to police records, Ganesh Poojary has a total of 11 cases registered against him at the Karkala Town Police Station. These include four cases of attempted murder, one robbery, three assault cases, one case of unlawful assembly, one gambling-related case, and another miscellaneous offence.
Of these, he has been convicted in one case, acquitted in seven cases, while one case is currently under trial and two others remain under investigation.
Police said the detention was carried out to prevent further criminal activities and to maintain public order in the district.
