Bank loan fraud: ED arrests Kolkata-based bizman for 'cheating' SBI for Rs 95 cr
New Delhi (PTI): The Enforcement Directorate (ED) on Saturday said it has arrested a Kolkata-based businessman under the anti-money laundering law for allegedly defrauding State Bank of India of Rs 95 crore.
Kaushik Kumar Nath was arrested on March 30 and a special Prevention of Money Laundering Act (PMLA) court in Kolkata sent him to ED custody till April 10, the agency said in a statement.
Nath, it said, availed credit facilities from State Bank of India (SBI) by submitting "forged and fabricated" documents.
"The funds received in the guise of credit facilities were withdrawn in cash and used for purposes other than (those) for which they were sanctioned," it said.
The ED said SBI, the country's largest lender, was cheated to the tune of about Rs 95 crore.
The money laundering case against Nath stems from at least four FIRs and charge sheets filed by the Central Bureau of Investigation (CBI) apart from a case filed against him by the Mumbai Police Crime Branch.
"Nath was frequently changing his identity and defrauding banks. Recently, he had shifted his base to Mumbai and engaged in such type of criminal activities there," the ED said.
Immovable assets worth Rs 3.68 crore have also been attached in this case, the agency said.
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IPL 2024: RCB qualifies for playoffs, beats Chennai Super Kings by 27 runs
Bengaluru: The Royal Challengers Bengaluru (RCB) have qualified for the playoffs of IPL 2024 after defeating the Chennai Super Kings (CSK) by 27 runs in a thrilling match at the M. Chinnaswamy Stadium on Saturday.
RCB, captained by South African cricketer Faf du Plessis, emerged victorious in this crucial match to secure their spot in the playoffs. However, the lost match is tragically significant to Chennai Super Kings' key player M S Dhoni, for whom it is believed to be the last IPL season.
