Updated on: 4th MAY 2023 12:38 PM IST | Mumbai
S S NADAR | news@debotimes.in

In its complaint to the agency, IDBI has alleged that the accused persons diverted the bank’s funds to their group companies without prior permission.

The Central Bureau of Investigation (CBI) has registered a case against a company and its directors for allegedly defrauding IDBI Bank of ?26.45 crore.

IDBI says the accused diverted funds from the bank to group companies

In its complaint to the agency, IDBI has alleged that the accused persons diverted the bank’s funds to their group companies without prior permission. They violated the terms and conditions of the bank with the intention to commit fraud, it said.

According to the CBI, a written complaint dated March 21, 2022, was received from Aditya Gajbhiye, deputy general manager, IDBI Bank, Pune, against a private company, having its registered office at Kalbadevi in Mumbai and corporate office in Amravati, and unknown public and private persons for having committed the fraud of ?26.45 crores.

The company was accused of cheating on IDBI bank

“It has been alleged in the complaint that the company, which is engaged in refining of soya-bean oil by solvent extraction and manufacturing of soya de-oiled cake, soya crude oil and soya refined oil, by availing credit facility from IDBI Bank, cheated the bank and diverted the fund of the bank by transferring the fund to its group companies without prior permission. They violated the terms and conditions of the bank with intentions to commit fraud and voluminous transactions were carried out thereby causing a wrongful loss of ?26.45 crores to the bank and corresponding wrongful gain to themselves,” the agency officials claimed.

Maharashtra govt gives general consent to CBI in the particular case

The Government of Maharashtra vide its notification dated October 21, 2020, had withdrawn its general consent to members of the Delhi Special Police Establishment (DSPE) Act. Therefore, CBI Mumbai sent a letter dated April 4, 2022, to the chief secretary, of the Government of Maharashtra, to accord consent in this specific case under DSPE Act to register and investigate the matter. The government vide its notification dated October 21, 2022, accorded general consent to register and investigate the case.