Central Bureau Of Investigation Files Charge Sheet Against Promoters Of Vindhyawasini Group In SBI Bank Fraud Case
[ By Bobby Anthony ]The Central Bureau of Investigation (CBI) has filed a charge sheet against directors and promoters of the Vindhyavasini group after its probe into a Rs 457-crore bank fraud case.According to a senior CBI official, the agency filed the charge sheet against its promoters and directors for allegedly diverting funds to 18 shell companies floated by them for wrongful...
The Central Bureau of Investigation (CBI) has filed a charge sheet against directors and promoters of the Vindhyavasini group after its probe into a Rs 457-crore bank fraud case.
According to a senior CBI official, the agency filed the charge sheet against its promoters and directors for allegedly diverting funds to 18 shell companies floated by them for wrongful gains.
On September 27 this year, the CBI had arrested Vijay Rajendra Prasad Gupta, the Chairman and Managing Director of Vindhyavasini Steel Corporation Pvt Ltd from Haridwar in connection with the bank fraud case.
The CBI registered four cases against the group in April 2018, based on a complaint filed by the State Bank of India for bank fraud to the tune of Rs 457 crore.
The agency has also registered two FIRs in 2016 for bank fraud to the tune of Rs 305 crore.
The company promoters Vijay R Prasad Gupta and Ajay R Prasad Gupta are brothers who were directors of the companies when the loans were sanctioned.