hi INDiA Copyright 2020
CBI arrests company promoters, bank official in fraud case
New Delhi, June 13 (IANS) The CBI on Tuesday said it has arrested Abhijeet Group promoters — Manoj Jayaswal and Abhishek Jayaswal — and a former Canara Bank Deputy General Manager T.L. Pai on the charge of causing loss of over Rs 290 crore to two banks through fraud.
According to the CBI, the accused caused loss of Rs 218.85 crore to Canara Bank and Rs 71.92 crore to Vijaya Bank.
The Central Bureau of Investigation (CBI) said its probe revealed a large-scale scam in which 13 companies of the Abhijeet Group raised loans from over 20 banks and other financial institutions, which turned into non-performing assets (NPAs) since 2014 and led to outstanding loans of Rs 11,000 crore.
The arrests were made in a case registered by the agency in 2015 on a complaint by the two public sector banks that the accused perpetrated a fraud of Rs 290.77 crore through criminal conspiracy and cheating.
The group promoters were arrested from Kolkata.