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Thursday, December 9th, 2021

CBI files a chargesheet against two then directors of latur (maharashtra) based private firm and five others for causing an alleged loss of rs.49.30 crores to two banks

New Delhi,
         The Central Bureau of Investigation has filed a chargesheet before the Principal District & Sessions Judge, Latur (Maharashtra) against then two Directors & their Latur (Maharashtra) based private firm; two Guarantors of said firm; then Sub Registrar of District Latur (Maharashtra) and a private person in a case for causing an alleged loss of Rs.49.30 crores(approx) to Union Bank of India and Bank of Maharashtra.
         CBI had registered a case on 25.03.2014 on a complaint received from Union Bank of India (who had filed it on behalf of Bank of Maharashtra as well) against a Latur (Maharashtra) based private firm and others alleging that the said firm represented by its Directors and other accused persons was party to a criminal conspiracy to cheat the Union Bank of India and Bank of Maharashtra to the tune of Rs.49.30 crores (approx). In pursuance of the said criminal conspiracy, the accused allegedly induced the bank to sanction the loan with a collateral which did not belong to them. The accused persons accomplished this with the help of forged documents showing a Guarantor as the owner. After obtaining the loan, they diverted the funds released for other purposes. It was further alleged that the accused persons also replaced the relevant pages in the documents available in the Sub Registrar’s office, showing the charge of the bank and substituted the pages with those showing a property with much lower value.
         After thorough investigation, CBI has filed a chargesheet.
         The public is reminded that the above findings are based on the investigation done by CBI and evidence collected by it. Under the Indian Law, the accused are presumed to be innocent till their guilt is finally established after a fair trial.



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