The Central Bureau of Investigation (CBI) has registered two separate cases against two companies for allegedly cheating two public sector banks out of several million rupees. In the first case, a Mumbai-based private company M / s Spanco Ltd and its directors were arrested by the investigating agency in a complaint by the Central Bank of India for causing an alleged loss of Rs 103.27 crore to the bank.
“It was alleged that a fraud was perpetrated in the Central Bank of India, by a private company based in Mumbai and other defendants. In addition, it was alleged that the defendants conspired with each other and diverted the loan amount to their group company and then transferred it to personal accounts of the promoter and her relatives. They cheated the Central Bank of India out of a sum of Rs 103.27 crore, ”said RK Gaur, spokesman for CBI.
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The agency conducted searches at four locations in Mumbai on Thursday, including the defendants’ office and residential premises, leading to the recovery of incriminating documents, it claimed.
In the second unrelated case, a company identified as Mayfair Leisures Ltd and its officials have been booked for allegedly defrauding the Bank of India (BoI) out of 54 million rupees. The company had requested a loan of Rs 63 crore from BoI to manage and operate a five-star hotel in Vadodara, Gujarat.
The Directorate of Enforcement (ED) had also seized Mayfair Leisure properties in 2018.
CBI has claimed that the company misled BoI of Rs 54 crore through forgery and a criminal conspiracy.
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