CBI books 2 pvt firm directors,ex-SBI man for Rs165 cr fraud

The Central Bureau of Investigation (CBI) has registered a case against two directors of a Kolkata-based private company and then chief manager of the State Bank of India, IFB, Kolkata and others under section 120B r/w 420 of IPC and other relevant sections on a complaint from SBI, Kolkata.

It was alleged that the said company availed different loans amounting to Rs.142.89 crore from Industrial Finance Branch of SBI, Kolkata and after availing the loans, the Company & its Directors in criminal conspiracy, misused the funds of the loans for the purposes other than the business.