NEW DELHI: On Monday, CBI searched eight locations after booking a Delhi-based dairy company Kwality Ltd and its directors for allegedly misleading a consortium led by the Bank of India, resulting in a loss of more than Rs 1.4 billion, authorities said.
The CBI has registered the case against Kwality Ltd and its directors Sanjay Dhingra, Siddhant Gupta, Arun Srivastava in addition to other unidentified persons, they said.
“It was alleged in the complaint that said defendant had misled the Bank of India-led consortium comprising BOI (lead bank), Canara Bank, BoB, Andhra Bank, Corporation Bank, IDBI, Central Bank of India, Dhanlaxmi Bank, Syndicate Bank for a sum of Rs.1400.62 core (approx.), “said CBI spokesman RK Gaur.
They allegedly misled the banks by “diverting bank funds, bogus related party transactions, fabricated documents / receipts, counterfeit ledgers” and creating bogus assets and liabilities, etc., Gaur said.
Searches were carried out Monday at eight locations, including Delhi, Saharanpur, Bulandshahr (Uttar Pradesh), Ajmer (Rajasthan), Palwal (Haryana), etc. at the premises of the private company and other defendants.
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