SME Times is powered by   
Search News
Just in:   • France, Dassault Aviation contradict Hollande on Rafale's Indian partners  • US sanctions Chinese military for buying Russian weapons  • NDA government dares to take decisions, others don't: Modi on triple tala  • PNB fraud: Mehul Choksi seeks cancellation of NBW over threat to life on TV  • Modi to launch Ayushman Bharat on Sunday 
Last updated: 11 Jul, 2018  

SBI.9.Thmb.jpg CBI books 3 Mumbai firms for cheating SBI

SBI.9.jpg
   Top Stories
» Modi to launch Ayushman Bharat on Sunday
» 'Serbia, Malta, Romania express admiration for India's growth'
» Paryatan Parv celebrations in full swing throughout country
» FICCI, EU body organize clean energy event
» Govt's heavy-handed approach hits exports credit: Chidambaram
SME Times News Bureau | 11 Jul, 2018
The CBI on Tuesday said it had registered cases against three Mumbai companies, SBI officials and unidentified persons on the charge of defrauding the bank to the extent of Rs 136.93 crore.

A Central Bureau of Investigation (CBI) official said in Delhi that the agency registered one of the cases of criminal conspiracy and cheating against Top Worth Pipes and Tubes Pvt Ltd, its Directors Abhay Narendra Lodha, Shishir Shivaji Hiray, Harshraj Shantilal Bagmar, SBI's then AGM Thyagaraju Inamanamelluri, Deputy Manager Vilas Narhar Ahirrao, Deputy Manager (Bills) Madhura Mangesh Sawant and unidentified public servants and private persons.

The second case was registered against Maheep Marketing Pvt Ltd, its Directors Gajendra Sandim, Hemant Sanghvi, Inamanamelluri, Ahirrao, Sawant and unidentified public servants and private persons.

The third case was against Harsh Steel Trade Pvt Ltd, its Directors Chetan Jitendra Mehta, Mahadev Ramchandra Shringare, then SBI AGM Jagdish Kulkarni, then Deputy Manager Sadanand Girkar, and unidentified public servants and private persons.

The SBI lost Rs 56.81 crore, Rs 49.99 crore and Rs 30.13 crore in these dealings.

The CBI official said these private companies enjoyed bill discounting facilities against the Letters of Credit (LoC) issued by SBI's D.N. Road branch and PM Road Branch, Fort, Mumbai.

"However, these bills were returned unpaid by the banks concerned since there were instances of diversion of funds and misrepresentations by the companies," the official said.

"The SBI's internal enquiry revealed irregularities such as issuance of multiple invoices, false lorry receipts showing incorrect vehicle registration numbers and vehicles other than heavy goods vehicles for transportation," he said.

The official said the agency searched 17 places in Mumbai, Raigad, Malegaon and Amravati and seized incriminating documents.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 23 Sep, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(5)
» Letter of Credit - a safe and secure payment mode?(2)
» GeM mission launched to promote MSMEs, start-ups: Prabhu(1)
» Collateral free loans available for MSMEs: Minister(1)
» Govt clarifies on e-way bill requirement for exports consignment(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter