CBI raids offices of Crompton Greaves in Rs 2,400 cr bank scam
New Delhi: The CBI raided many offices of consumer goods maker Crompton Greaves at Gurugram and Mumbai in connection with searches being carried out on industrialist Gautam Thapar who was the CMD of the company.
CBI has registered a case against the company and also against Thapar, who was the CMD. A case has also been registered against K N Neelkanth who was the CEO and MD of the company, CBI said in a statement.
The case has been filed on a complaint by SBI which has alleged Rs 2,435 crore scam by the company and its senior management.
In its complaint, SBI has alleged that several banks that had formed a consortium have been cheated by the company and its officials. The banks have been cheated allegedly are Axis Bank, Bank of Maharashtra, IndusInd Bank, Yes Bank, Corporation Bank, Barclays Bank, etc.
SBI has alleged that the monies were siphoned off by way of sham transactions with benami and related companies, diversion of bank funds, misrepresentation of facts, forging and falsifying books of accounts and furnishing false and incorrect information.