CBI books 2 Ghaziabad-based firms in Rs.8.75 cr bank loan fraud case

CBI received a complaint in this connection from the Punjab National Bank on March 13 this year

August 20, 2023

CBI books Accord Furnishing Pvt. Ltd, its directors, and Guarantor of Anchor Overseas, its director in bank loan fraud case

The Central Bureau of Investigation (CBI) has booked two Ghaziabad-based private firms and their officials in connection with an Rs.8.75 crore bank loan fraud case.

CBI received a complaint in this connection from the Punjab National Bank (PNB) on March 13 this year. The bank claimed that it faced a loss of Rs.8.75 crore.

The FIR read that Accord Furnishing Pvt. Ltd, its directors Neerja Dixit, Ashwani Dixit, its erstwhile director and Guarantor of Anchor Overseas; Rajat Kumar Arora, director of Accord Furnishing Pvt. Ltd and others committed fraud.

“In 2015, Neerja and Ashwani approached the bank, seeking a Cash Credit Loan Facility of Rs.1.40 crore. The bank approved the request and disbursed a loan (Cash Credit) of Rs.1.40 crore to the accused. To further secure the credit facilities, they mortgaged a few properties,” read the FIR.

The FIR further stated that in 2016, the accused again approached the Bank for enhancement of their Cash Credit Limit from Rs.1.40 crore to Rs.2.75 crore, which the bank accepted.

“Furthermore, in 2016, the accused persons also availed a Term Loan Facility of Rs.1.40 crore for the purchase of machinery and other assets to set up a factory,” the bank said in the complaint.

The bank alleged that the accused might have siphoned off the funds borrowed from it, and diverted them for purposes other than those for which the funds were sanctioned.

The CBI official stated that they have lodged an FIR under sections 120B read with sections 420, 468, and 471 of the IPC, and were looking into the matter.

[With Inputs from IANS]

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