Bank loan fraud case: CBI registers FIR against Pune-based builder K J Infrastructure Projects, its directors
On Thursday, the Central Bureau of Investigation (CBI) said that it has registered a case based on a complaint filed by Union Bank of India against K J Infrastructure Projects India Pvt Ltd, a Pune-based firm, its directors, and Wing Infrastructure Engineering Pvt Ltd in a loan fraud case amounting Rs.91.91 crore.
K J Infrastructure Projects and its promoters availed credit facilities from UBI on the basis of manipulated statements in order to draw a higher volume of amounts from the bank. Later, they diverted the proceeds into the accounts of its related and associated companies without its end utilization. Due to this, the bank suffered a loss of Rs.91.92 crore.
After lodging the FIR, the CBI conducted searches at various locations in and around Pune, which led to the recovery of incriminating documents, hard disks, and electronic gadgets from the premises of the accused.
[With Inputs from IANS]
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