Face2News/Pune (Maharashtra)
The Central Bureau of Investigation has registered a case on complaint from Union Bank of India, Pune against a private company(Borrower Company) based at Pune(Maharashtra) and others including its Directors, other private company & unknown Public Servant(s)/Private Persons.
(SUBHEAD)It was alleged that said borrower company & its promoters availed credit facilities from Union Bank of India on the basis of manipulated stocks-book debts statements, financial statements with inflated figures / over stating sales, income & profit in order to draw higher volume of amounts from the bank and thereby, diverted the proceeds into the accounts of its related & associated companies without its end utilization. An alleged loss to the to the tune of Rs.91.92 crore was caused to Union Bank of India.
Searches were conducted at various places in & around Pune District which led to recovery of incriminating voluminous documents, hard disks, electronic gadgets etc. from the premises of accused. Investigation is continuing.
