[ By Bobby Anthony ]The Central Bureau of Investigation (CBI) has registered a case against Delhi-based Radhika Food Ltd as well as its directors Siddharth Chaudhary and Anju Chaudhary on charges of cheating a consortium of banks led by State Bank of India (SBI) to the tune of Rs 819.48 crore.The consortium of banks comprise the SBI, the Indian Overseas Bank, the Oriental Bank of Commerce,...
The Central Bureau of Investigation (CBI) has registered a case against Delhi-based Radhika Food Ltd as well as its directors Siddharth Chaudhary and Anju Chaudhary on charges of cheating a consortium of banks led by State Bank of India (SBI) to the tune of Rs 819.48 crore.
The consortium of banks comprise the SBI, the Indian Overseas Bank, the Oriental Bank of Commerce, the Exim Bank, the Bank of India, the IDBI Bank, the Bank of Maharashtra, the CSB Bank, the Vijaya Bank (now merged with Bank of Baroda) and the UCO Bank.
The CBI also conducted searches at the residence of the accused in Delhi which led to recovery of incriminating documents.
In its FIR, the CBI has named the firm based in South Delhi's Saket area, its directors as well as unidentified public servants on charges of cheating, criminal conspiracy and forgery under Indian Penal Code and the Prevention of Money Laundering Act (as amended in 2018), based on a complaint filed by SBI on behalf of a consortium of 10 banks.
“It was alleged that the company availed credit facilities to the tune of Rs 732 crore and cheated the complainant bank and other consortium banks by way of forgery and using forged documents as genuine,” the CBI’s FIR stated.
An alleged loss of Rs 819.48 crore, as on April 1, 2018 was caused to the banks, the CBI’s FIR stated.