CBI charge-sheets Ggn-based bizman for cheating bank

The Central Bureau of Investigation (CBI) charged a Gurgaon-based businessman with cheating Indian Overseas Bank of Rs 102.45 crore by submitting forged bills of iron ore exports.

CBI sources said a charge-sheet has been filed before special CBI court in Saket against Gagan Shukla, Managing Director, Alpine Minmetals India Pvt Ltd under IPC sections related to cheating and forgery for allegedly cheating Indian Overseas Bank to the tune of around Rs 102.45 crore. 

“It was alleged that the directors of the said company in criminal conspiracy with other unknown persons/public servants/bank officials defrauded the Indian Overseas Bank by way of availing export finance from the Indian Overseas Bank, Palika Bhawan, RK Puram, New Delhi on the basis of fake and fabricated documents and caused a loss of approximately Rs 102.45 crore to the complainant bank,” CBI Press Information Officer RK Gaur said here on Monday.

He said the CBI investigation revealed that the accused had submitted three export bills under Letter of Credit to the Indian Overseas Bank requesting therein that the export of iron ore against the said alleged export bills had already been made by the company. “Along with the bills, the company submitted fake bills of <g data-gr-id="11">loading</g>, certificates of quality and certificates of weight in respect of iron ore purportedly exported by the said company.