Hyderabad: The first case was registered on a complaint from State Bank of India against a private firm based at Ahmedabad, Gujarat & others including its Directors and unknown public servants & unknown others on the allegations of cheating the consortium of banks including State Bank of India to the tune of Rs. 452.62 crore (approx.) during the period 2013 to 2017.
It was alleged that, during the period 2013 to 2017, the accused entered into a criminal conspiracy to defraud/cheat the consortium of banks comprising of State Bank of India, Bank of India, Bank of Baroda, Central Bank of India, Bank of Maharashtra, Punjab National Bank and Vijaya Bank in the matter of various credit facilities extended by them.
In pursuance of the said conspiracy, the accused manipulated/falsified the books of accounts and diverted/siphoned off the funds of the banks, and thereby cheated the consortium of banks to the tune of Rs. 452.62 crore (approx).
Searches were conducted today at four places including official and residential premises of private company/Directors at Ahmedabad which led to recovery of incriminating documents/articles.
The second case was registered on a complaint from Bank of Baroda against a private company based at Gandhinagar, Gujarat & others including its Directors and unknown public servants & unknown others on the allegations of cheating the Bank of Baroda to the tune of Rs. 72.55 crore (approx) during the period 2017 to 2019.
It was alleged that, during the period 2017 to 2019 the company availed various credit facilities which were enhanced and reviewed by the bank.
It was further alleged that the continuous overdraft in the account and devolvement of LCs resulted in the account becoming NPA. It was also alleged that the Forensic audit report of the bank had revealed the irregularities in the account and that the directors had diverted / siphoned off the loan proceeds, thereby causing loss to the bank.
Searches were conducted today at five places including official and residential premises of private company/Directors at Gujarat and Mumbai which led to recovery of incriminating documents/articles.
Name of the accused:
In the first case
(i) M/s. Varia Engineering Works Pvt. Ltd, (ii) Himanshu Prafulchand Varia (iii) Sejal Varia, (iv) M/s. Krish Tech-con Pvt. Ltd (v) unknown public servants and (vi) unknown others
In the second case
(i) M/s. Gopala Polyplast Ltd, (ii) Manish Mahendra Somani, (iii) Manoj Mahendra Somani, (iv) Kishorilal Sonthalia (v) unknown public servants and (vi) unknown others
