CBI lodges case against Rajkot-based company for cheating bank of Rs 44.64 cr

  • | Monday | 29th November, 2021

New Delhi, Nov 29 (PTI) The CBI has registered a case against Rajkot-based Mandeep Industries and its directors and partners for allegedly cheating the Union Bank of India to the tune of Rs 44.64 crore, officials said on Monday.  Besides the company, the CBI has booked its directors and partners Ashish B Talaviya, Kishorbhai H Vaishnavi, Shri Ramjibhai H Gajera, Kalpesh Pravinbhai Talaviya, Bhavesh M Talaviya and unknown public servants and unknown others, they said. "It was alleged that during the period 2014 to 2020, the accused in pursuance of conspiracy induced the Union Bank of India to sanction various credit facilities, including cash credit and term loans amounting to Rs 47.30 crore (approximately)," CBI Spokesperson RC Joshi said. He said the account was declared a non-performing asset on January 15, 2020 due to alleged "non-servicing of interest/installments, thereby, causing a loss of Rs 44.64 crore(approximately) to the Union Bank of India". After registration of the case recently, the CBI conducted searches at seven places, including at offices and residential premises of the accused at Upleta and Rajkot in Gujarat, which led to the recovery of incriminating documents and articles, Joshi said. PTI ABS AAR

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