Private firm promoter held for Rs 35 crore fraud
17 April 2015 5:19 AM IST
A promoter of a private company was arrested by the Economic Offences Wing of the Delhi Police for allegedly duping a consortium of banks to the tune of more than 35 crore rupees, an official said on Wednesday.
The accused identified as Parvesh Khurania was arrested on Tuesday from Karnal, Haryana as he is not just the promoter and Managing Director of the company but also authorised signatory of its bank accounts.
The fraud came to light when one Abhay Aggarwal, Deputy General Manager, State Bank of Hyderabad, Karol Bagh reported to police that Sheetal Riceland Ltd, Peoda Road, Katihal was enjoying working capital limits and a term loan from a consortium consisting of State Bank of Hyderabad, Nehru Place, State Bank of Travancore, Parliament Street and State Bank of Patiala, Manesar, Gurgaon Branch.
The consortium had extended a total of Rs 32 crore of Cash credit and Rs 3.6 crore of Term Loan to the company in the year 2011.
The accused identified as Parvesh Khurania was arrested on Tuesday from Karnal, Haryana as he is not just the promoter and Managing Director of the company but also authorised signatory of its bank accounts.
The fraud came to light when one Abhay Aggarwal, Deputy General Manager, State Bank of Hyderabad, Karol Bagh reported to police that Sheetal Riceland Ltd, Peoda Road, Katihal was enjoying working capital limits and a term loan from a consortium consisting of State Bank of Hyderabad, Nehru Place, State Bank of Travancore, Parliament Street and State Bank of Patiala, Manesar, Gurgaon Branch.
The consortium had extended a total of Rs 32 crore of Cash credit and Rs 3.6 crore of Term Loan to the company in the year 2011.
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