New Delhi, September 21
On Monday, CBI searched eight locations after hiring Delhi-based dairy company Kwality Ltd and its directors for allegedly misleading a Bank of India-led consortium, resulting in a loss of more than 1.4 billion. rupees, 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 is alleged in the complaint that said defendant had misled the consortium led by the Bank of India which comprises BOI (main bank), Canara Bank, BoB, Andhra Bank, Corporation Bank, IDBI, Central Bank of India, Dhanlaxmi Bank, Syndicate Bank with a sum of 1400.62 rupees (approx.), ”said CBI spokesman RK Gaur.
They allegedly misled the banks by “diversion of bank funds, bogus related party transactions, fabricated documents / receipts, counterfeit account books” and created bogus assets and liabilities, etc., Gaur said.
Searches were carried out on Monday in eight locations including Delhi, Saharanpur, Bulandshahr (Uttar Pradesh), Ajmer (Rajasthan), Palwal (Haryana), etc., at the premises of the private company and other defendants. PTI
