CBI registers case against Mumbai-based jewellery company, directors
Searches have been conducted today at 13 places including office and residential premises of the accused and others in Lonavala in Maharashtra
The Central Bureau of Investigation (CBI) has registered a case against a Mumbai-based private jewellery company, its three directors and others, including unknown public servants, on a complaint from a bank. In a press note, the CBI said, "It was alleged that the said company availed cash credit facilities to the tune of Rs 578.50 crore under consortium banking arrangement from eight banks and cheated them by way of forgery and using forged documents. This caused wrongful loss to these banks of about Rs 568.52 crore approximately."
Searches have been conducted today at 13 places including office and residential premises of the accused and others in Lonavala in Maharashtra, which led to the recovery of various incriminating documents, the CBI said.
The investigation is continuing, the Central probe agency added.
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