Case against logistics company

The Central Bureau of Investigation (CBI) has registered a case against a logistics company for allegedly cheating the Union Bank of India to the tune of Rs 38.53 crore by diverting the loan amount, a claim strongly refuted by the company.

CBI sources said the agency has registered the case against CRS Logistics at Anand in Gujarat, its directors – Deepak Chandrakanth Shah and Jagdish Shah – and another firm Rishita Autocraft. It is alleged that these people entered into a criminal conspiracy and obtained credit facilities from the Union Bank of India to the tune of around Rs 55.81 crore for purchasing 125 trucks to get the PUF-insulated-refrigerated-container fixed on the chassis by Rishita Autocraft, the sources said.