CBI raids steel firm In Benagluru for cheating banks
New Delhi: In a lengthy steak of frauds involving banks, the Central Bureau of Investigation (CBI) has now registered against Steel Hypermart India Pvt Ltd in Bengaluru for cheating a consortium of banks to the tune of Rs 200 crore.
The directors of the company have also been booked. The consortium of banks is led by Indian Bank.
CBI even raided the premises of the company and its directors in Bengaluru and Shoolagiri (Krishnagiri district of Tamil Nadu). The directors of the company who have been booked by CBI are Suman Mahendra Kumar Singhi and Mahendra Kumar Singhi. The CA of the company Mukesh Surana has also been booked. An FIR was filed by Indian Bank, said CBI spokesperson RC Joshi.
The FIR mentioned that Steel Hypermart availed credit facilities from a consortium of Indian Bank and e-Vijaya Bank in the period 2017-2019. The account of the company was declared NPS in April 2019. It was later classified as a fraud in November 2019. The fraud caused losses of Rs 168 crore to Indian Bank and Rs 319 crore to e-Vijaya Bank.