Ahmedabad: The Central Bureau of Investigation ( CBI ) on Friday filed a chargesheet in a special court here against eight persons including prmotors of Vadodara-based Diamond Power Infrastructure Ltd (DPIL), Amit Bhatnagar , his brother Sumit and father Suresh Bhatnagar, in connection with the alleged Rs 2,654.40-crore bank scam.Besides the Bhatnagars, five others who have been charged in this case are then DGM of Bank of India, Pradep Srivastava, then AGM of the bank Vijay Agnihotri, director of Ruby Cables Ltd Chirag Gada, a DPIL employee Niraj Sheth and the company itself. They were charged for criminal conspiracy, cheating, forgery as well as under the Prevention of Corruption Act.CBI registered an FIR against the Bhatnagars in April and they were arrested from a hotel in Udaipur. The complaint was also filed against unknown persons. The charges of corruption were added by CBI on argument that evidence suggested involvement of bank officials in the alleged scam. The charges were of duping banks of Rs. 2,654.40 crore by falsification of accounts, creation of false documents, forgery and cheating. It was further alleged that DPIL engaged in the manufacturing of cables and other electrical equipment, through its management, had fraudulently availed Credit Facilities from a Consortium of 11 Banks since 2008, with an outstanding amount of Rs.2654.40 crore as on June 29, 2016.The investigation revealed that after 2007, the bank officials had allegedly entered into criminal conspiracy with DPIL directors for fraudulent appraisal and disbursal of credit facilities to the firm. DPIL allegedly submitted forged Bill of Exchange and false documents of another private cables company without actual purchases for availing Letter of Credit facilities from the Bank of India.The chargesheet also revealed that DPIL prmotors had obtained fraudulent documents of sale from other private companies for availing Letter of Credits facility from Bank of India. In this manner, turnover of the company was fraudulently inflated for getting enhancement in CC limits in the subsequent years and also fraudulently obtained CENVAT credit from government. Majority of payments so made from the CC account were routed back to DPIL, the chargesheet claimed.

Stay updated with all the Ahmedabad Latest News headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.