CBI registers cheating case against 2 firms in Chandigarh
The CBI on Sunday carried out searches at three locations in Chandigarh and Mohali after registering a case against a company for allegedly cheating Punjab National Bank to the tune of Rs 1,301 crore.
The agency has charged Chandigarh-based Kudos Chemie Limited and its directors - Kabir Sodhi, Jitendra Singh and Gurmeet Sodhi - with criminal conspiracy and cheating based on a complaint filed by the bank.
The complaint stated that the accused produced fake and fabricated documents to avail credit facilities.
The directors cheated the bank to the tune of Rs 1,301 crore by siphoning off funds, the bank alleged.
In a separate case, the agency is also carrying out searches at three more locations in Jabalpur and Reva in Madhya Pradesh after booking a company for allegedly duping Canara Bank of Rs 43 crore.
The case has been registered against Jagdamba AMW Automotive Limited and its four directors – Pushpendra Singh, Yogendra Singh, Shailendra Singh and Pratima Singh -- for allegedly submitting fake and fabricated documents to avail credit facilities.
The bank alleged that the company did not repay funds availed through credit facilities, causing a loss of Rs 43.77 crore to it.