CBI Raids 50 Places Across the Country in Bank Loan Frauds Worth Rs1,135 crore: Reports
Moneylife Digital Team 03 July 2019
The Central Bureau of Investigation (CBI) had conducted searches in more than 50 locations in 12 states and union territories (UTs) in connection with bank losses totalling over Rs1,134.58 crore, say reports.
An official from CBI told IANS that said several teams carried out the raids in 18 cities including the residences and business premises of companies, promoters, directors and bank officials for an amount worth Rs640 crore.
The places where the raids took place include: Delhi, Chandigarh, Mumbai, Thane, Pune, Valsad, Surat, Ludhiana, Gurugram, Gaya, Palani in Tamil Nadu, Bhopal and Kolar in Karnataka.
According to a report from the Hindu Business Line, there have been 14 fresh cases registered against the accused, including various companies and firms, their promoters and directors and bank officials. 
Listing the cases, the CBI had said that it acted upon a complaint by the Export Import Bank of India (EXIM Bank) alleging bank fraud by Winsome Diamonds and Jewellery Ltd, leading to a loss of Rs202 crore. Taking this into account, the CBI now has 16 cases registered against Winsome and its promoters.
"In the case registered on Tuesday, Winsome Diamonds and Jewellery has been named as an accused. Jatin Mehta, the promoter and director, Ramesh Parikh, Hariesh Mehta, Jai Kumar Kapoor, Hari Mohan Namdev, all directors of the company, have been named in this case. Haytham Salman Ali Abu Obediah and unknown public servants have also been named," the report says.
Following complaints by Bank of India (BoI), a case has been registered against Eskay K’N’It (India) Ltd (popularly known as Tayal group), that alleges wrongful loss of Rs91.36 crore. In addition to the company, Navin Kumar Tayal, its chairman; Anand Zawar, managing director; and Naresh Chandra Sharma, Trivendra Shambhu Singh, and Manmohan Balbir Ahluwalia, all directors of the company, have been named in the case. Pravin Kumar Tayal and Ram Pratap Tayal, guarantors of the company, and unknown public servants have also been named in this case.
A case against Ludhiana-based Supreme Texmart has been lodged by the CBI on a complaint filed by State Bank of India (SBI), the report says, adding the amount of ‘wrongful loss’ caused is pegged at Rs143.25 crore and Ajay Gupta, the company's MD and guarantor; Gautam Gupta, a guarantor; and Sanjay Gupta, a shareholder and guarantor, have been named in the case.
Gold Leaf International Private Ltd, a related party and guarantor, and unknown public servants have also been named in this case, it added.
According to the newspaper, cases against promoters and representatives of Aegan Batteries (Rs98.75 crore), Ramnandi Hotel and Resorts Ltd (Rs131.79 crore), Nefto Gas India Pvt Ltd (Rs93 crore), SL Consumer Products Ltd (Rs55 crore), Samprash Foods Pvt Ltd (Rs60 crore), International Megha Food Park Ltd (Rs40.17 crore), Ranjeet Automobiles (Rs34 crore), Jalpa Textiles Pvt Ltd (Rs28 crore), Supamed Trading Pvt Ltd (Rs57 crore), Asuti Trading Pvt Ltd (Rs50 crore) and others have also been filed.
Dr.Dhananjaya Bhupathi
5 years ago

1. Unless & until lazy duds of adhocism in PMO/UFM are replaced & refurbished by magnanimous visionaries, nothing can be achieved by the Indian PRIME MINISTER & Union Finance Minister.
2. thereat.https://www.youtube.com/watch?v=T7fOf8rUrdw.
Replied to Dr.Dhananjaya Bhupathi comment 5 years ago
Very correct.
Ramesh Poapt
5 years ago
cleaning of endless dirt!
5 years ago
Ramesh Bajaj
5 years ago
This seems to be a tip of an iceberg. There are so many unlisted companies, where the hapless shareholder is ripped off, and he doesn't have resources to fight.

5 years ago
Interesting to observe that the 20 to 200 crore bracket who used to think they were invisible have now started jumping like frogs in a hot bucket. Below 20 crores was usually easy meat to fry, over 200 crores to 2000 crores could afford protection and over 2000 crores was part of the larger political horizon. It was the 20 to 200 lot who were broadly into making it a multiplier family business where cookie cutter models of the same scams were pulled off with impunity assuming they would be below the radar.
5 years ago
After waiting for five long years, at last some action is being taken now and we hope that these searches will definitely unearth--if not gold, bullion and cash--incriminating documents which will lead the investigators/authorities to the brain behind the fraud and, from there, to the person(s) at whose instance and with whose patronage this has been perpetrated. What is needed is to identify the greedy and corrupt bureaucrats/bank executives without whose complicity and pecuniary partnership such frauds simply cannot take place. It is also hoped that the CBI is assisted by the ED/IT/SFIO sleuths in the operations. What is strange, however, is the missing name of Kolkata from where every fraud invariably is generated from times immemorial. But, I am sure, the investigators must have prepared themselves very well and did the recce faultlessly. Wish the operations full success.
Free Helpline
Legal Credit