Friday, March 29, 2024
ADVT 
India

CBI files charge sheet against Delhi-based firm in PNB loan fraud

Darpan News Desk IANS, 16 Jun, 2022 10:14 AM
  • CBI files charge sheet against Delhi-based firm in PNB loan fraud

New Delhi, June 16 (IANS) The Central Bureau of Investigation (CBI) said on Thursday that it has filed a charge sheet against a Delhi-based soft toy manufacturing company and others, including its promoters and directors, for defrauding a consortium of 12 banks led by the Punjab National Bank (PNB) to the tune of Rs 2,040.63 crore.

"We have charge sheeted Delhi-based company Hanung Toys and Textiles Ltd, including its promoters and directors -- Ashok Kumar Bansal, Anju Bansal, Associate persons Rishu Agarwal, Manoj Kumar Garg and Kali Kant Jha, Statutory Auditor Piyush Jain and company's Secretary Arvind Kumar Gupta under various sections of the IPC," a CBI official said.

The official added that a case was registered on September 25, 2020, against the private firm and others on the allegations of causing losses to the tune of Rs 2040.63 crore to the consortium of 12 banks led by PNB.

It was alleged that Hanung Toys and Textiles Ltd was engaged in manufacturing and export of stuffed toys, home furnishing items, dyeing and bleaching, and processing of fabrics.

The CBI during investigation came to know that the accused allegedly manipulated the books of accounts by suppressing the actual derivative loss and made false financial statements across the years from 2008-2013 in order to present the inflated financial worth of the company for the purpose of obtaining various credit facilities from the banks.

It was further alleged that the quantum of suppressed derivative loss were malafidely and incorrectly reflected as non-existent debtors as well as stock in its books of accounts, thereby resulting in excess borrowing of Rs 478.35 crore from the consortium of banks.

"The borrower company had inflated its turnover by entering into non-genuine transactions with certain parties. These trades were allegedly done in circular transactions amounting to Rs 560 crore in order to siphon money from the banks and diverted the funds for personal gains of the directors and promoters of the said company," said the CBI official.

Further investigation on the role of others in the matter is underway.

MORE India ARTICLES

Woman arrested in connection with murder of national-level shooter

Woman arrested in connection with murder of national-level shooter
The CBI had registered a case on April 13, 2016 on the request of Chandigarh Administration and had taken over the investigation of the FIR earlier registered at Police Station, Sector-26, Chandigarh.

Woman arrested in connection with murder of national-level shooter

Punjab Police get seven-day custody of Lawrence Bishnoi

Punjab Police get seven-day custody of Lawrence Bishnoi
Bishnoi, who was brought from New Delhi after procuring the transit remand from Patiala House court, was produced in a Mansa court in Punjab at around 4 a.m. amid high-level security after his medical check-up.

Punjab Police get seven-day custody of Lawrence Bishnoi

Four arrested in connection with 1984 riots

Four arrested in connection with 1984 riots
According to him, the arrested accused have been identified as Saifullah Khan, 64, Vijay Narain Singh, 62, Yogendra Singh, 65, and Abdul Rahman, 65.

Four arrested in connection with 1984 riots

Member of Lawrence Bishnoi-Kala Jathedi gang held for extortion call

Member of Lawrence Bishnoi-Kala Jathedi gang held for extortion call
The police have also recovered an illegal weapon and live cartridge from the criminal. The accused has been identified as Aakash, a native of Muzaffarnagar in Uttar Pradesh.

Member of Lawrence Bishnoi-Kala Jathedi gang held for extortion call

'You'll meet the same end as Moosewala', extortionists threaten Ludhiana bizman

'You'll meet the same end as Moosewala', extortionists threaten Ludhiana bizman
The Punjab Police informed Delhi Police that the location of one of the phone numbers was traced to Delhi, and that the accused were changing their locations frequently. Acting on the tip-off, Delhi Police followed the leads obtained through technical surveillance and digital footprints.

'You'll meet the same end as Moosewala', extortionists threaten Ludhiana bizman

Two associates of Lawrence Bishnoi, Goldy Brar held in Sidhu Moosewala case

Two associates of Lawrence Bishnoi, Goldy Brar held in Sidhu Moosewala case
SSP Mohali, Vivek Sheel Soni said, the two accused identified as Gagandeep Singh alias Gaagi and Gurpreet Singh alias Gopi are residents of Dabbwali in Sirsa district of Haryana.

Two associates of Lawrence Bishnoi, Goldy Brar held in Sidhu Moosewala case

PrevNext