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CBI BOOKED TWO DELHI COMPANIES,OTHERS FOR CAUSING LOSS OF 53 CRORES TO UNION BANK OF INDIA

June 04, 2020 10:32 PM

New Delhi  (Face2News)

The Central Bureau of Investigation (CBI) has registered a case on a complaint from Union Bank of India, New Delhi against a private company (Borrower) based at New Delhi & its five directors; another private company (Guarantor) based at New Delhi & its two directors; two Panel Advocates of Bank and unknown officials of Union Bank of India.

It was alleged that the said borrower company, engaged in the manufacturing & trading of gold/diamond studed jewellery had obtained cash credit facilities and bank guarantee/stand by LC limit from Union Bank of India, East Patel Nagar, New Delhi.

It was further alleged that the said guarantor company created equitable mortgage of already sold out property in favour of the bank by depositing false title deeds of the property with the bank as security for the credit facilities availed by the said borrower company. It was also alleged that the said accused (borrower company) did not repay the loan amount and the same was declared as NPA, which has resulted a loss to the tune of Rs. 53 crore (approx.) to Bank. Investigation is continuing.

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