Vote for BJP in urban local bodies" poll for "triple engine" govt in UP: Adityanath

UP: Man booked for attempting to rape 5-year-old girl

Congress to mark 100 days of Bharat Jodo Yatra with concert in Jaipur

BJYM, Hindu outfits put off planned protest march at AMU

Karachi battles gas crisis; residents face unannounced load shedding, 2-hr gas supply in a day

Elderly man in judicial custody dies during treatment in UP hospital

Himachal Pradesh skittle Haryana for 46, take 200-run lead on Day 1

Pak court grants protective bail to PM Shehbaz"s son Suleman in money laundering case

British Library celebrates India ties with exhibition on Hampi

Nine policemen suspended after suspect dies in police custody in UP

Gangster"s property attached in UP"s Pratapgarh district

Maoists torch construction company vehicles in Jharkhand’s Chatra district

Sino-India border situation "generally stable": China on Yangtse clash

Babar Azam not taking advice from seniors, claims Shahid Afridi

Qlite Global launches their exclusive Grand Experience Centre

"Disillusioned with central leadership": Sikkim BJP president says he has resigned

2001 attack anniversary: Ready to guard new Parliament if directed, say CRPF heroes

Class 2 student dies after scuffle with fellow students in UP

Three killed in accident in UP"s Lakhimpur KheriLakhimpur Kheri (UP), Dec 13 (PTI) Three motorcycle borne youths were killed and "

Abandoned girl child from Assam adopted by Spanish professor

Home >> Delhi

Delhi diamond exporter for Rs 389 Crore of OBC loan fraud

| Saturday | 24th February, 2018

The company has availed various credit facilities from OBC between 2007-12, which swelled to Rs 389 crore during the period. New Delhi: After Nirav Modi and Mehul Choksi, the CBI has registered a case against a Delhi-based diamond jewellery exporter for an alleged bank loan fraud to the tune of Rs 389.85 crore towards Oriental Bank of Commerce. The CBI has booked Dwarka Das Seth International Pvt Ltd for the alleged fraud. The company was also engaging in business transactions with non-existent entities, it said. Six months after the public sector bank filed a complaint with the CBI, the agency booked the company, and Sabhya Seth, Reeta Seth, Krishna Kumar Singh, Ravi Singh — all directors of the firm — and another company named Dwarka Das Seth SEZ Incorporation.

New Delhi: After Nirav Modi and Mehul Choksi, the CBI has registered a case against a Delhi-based diamond jewellery exporter for an alleged bank loan fraud to the tune of Rs 389.85 crore towards Oriental Bank of Commerce. The CBI has booked Dwarka Das Seth International Pvt Ltd for the alleged fraud. Six months after the public sector bank filed a complaint with the CBI, the agency booked the company, and Sabhya Seth, Reeta Seth, Krishna Kumar Singh, Ravi Singh — all directors of the firm — and another company named Dwarka Das Seth SEZ Incorporation. The company has availed various credit facilities from OBC between 2007-12, which swelled to Rs 389 crore during the period. It was found by the bank that the company was using Letters of Credit (LoCs) to pay off other creditors against the purchase of gold and other precious stone and transfer gold and funds outside the country using fictitious transactions, the bank complaint, now part of the CBI FIR, alleged. The company was also engaging in business transactions with non-existent entities, it said. PTI

If You Like This Story, Support NYOOOZ

NYOOOZ SUPPORTER

₹ 10 - ₹ 1000

NYOOOZ FRIEND

₹ 2000 - ₹ 5000

Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.

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