CBI books jewellery firms for Rs 352 cr fraud in SBI
New Delhi: The CBI has booked three Jalgaon-based jewellery companies for alleged loan fraud of over Rs 352 crore in the State Bank of India, officials said on Wednesday.
In three separate FIRs, the agency has named Rajmal Lakhichand Jewellers Pvt Ltd, RL Gold Pvt Ltd, and Manraj Jewellers Pvt Ltd, and their promoters-directors-guarantors – Ishwarlal Shankarlal Jain Lalwani, Manish Ishwarlal Jain Lalwani, Pushadevi Ishwarlal Jain Lalwani and Neetika Manish Jain Lalwani – as accused.
According to the SBI complaint to the CBI, Rajmal Lakhichand Jewellers caused a loss of Rs 206.73 crore, RL Gold Rs 69.19 crore loss and Manraj Jewellers Rs 76.57 crore to the bank.
The three companies allegedly transacted business with their associate firm Rajmal Lakhichand, the largest debtor among the four companies. They also involved three named in the FIRs – Rajmal Lakhichand Jewellers Pvt Ltd, RL Gold Pvt Ltd, and Manraj Jewellers Pvt Ltd.
The purchase and sale of all four companies were primarily routed through Rajmal Lakhichand, the SBI has alleged.
The accounts of the FIR-named companies show payments made to Rajmal Lakhichand for purchases, but they said that receivables for products sold to it are shown as outstanding.
