Bhubaneswar, July 19 (IANS) In a crackdown against economic offenders, the CBI conducted searches at six locations across four States – West Bengal, Odisha, Tamil Nadu, and Uttarakhand – in connection with a Rs 1,100 bank fraud by an infrastructure company in Odisha, an official said on Sunday.
The Central Bureau of Investigation (CBI) conducted the searches on Saturday in the case registered against Gupta Power Infrastructure Ltd, Bhubaneswar, Odisha.
The raids were carried out based on search warrants issued by the Special Judge, CBI, Bhubaneswar, Odisha.
The search operations covered the residential premises of four accused directors of Gupta Power Infrastructure at Bhubaneswar, Odisha; the registered office of the company at Kolkata, West Bengal; three manufacturing units of the company located at Kashipur, District Udham Singh Nagar, Uttarakhand; Tiruvallur, Tamil Nadu and Bhubaneswar, Odisha.
The case pertains to alleged defrauding of Canara Bank to the tune of Rs 1,109 crore in connection with various fund-based and non-fund based financial facilities availed by the accused company from the bank, the CBI said.
The bank said in its complaint that the accused manipulated the value of stocks and inflated trade receivables, falsified the company’s financial statements to obtain enhanced credit facilities, siphoned and diverted loan funds, and resorted to evergreening of accounts, thereby causing a wrongful loss to the bank.
In a separate case, the CBI on Sunday arrested a man for impersonating an official of the Central government’s Department of Animal Husbandry and Dairying, Krishi Bhawan, New Delhi, and demanding bribes from loan applicants, an official said.
Prabhu Dayal was impersonating an official named Rishi Gupta and trying to collect a bribe of Rs 45,000 from a poultry farm owner in Uttarakhand, the CBI said in a statement.
After his arrest from his native village in Agra, Prabhu Dayal was produced before the Competent Court at Dehradun for custody, the CBI said.
The case was registered by CBI, ACB, Dehradun on June 29. It was alleged that the accused claimed to be an official of the Department of Animal Husbandry and Dairying and demanded a bribe of Rs 45,000 or 2 per cent of the loan amount of Rs 22.50 lakh from the complainant for approval of the loan, said the statement.
–IANS
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