Tuesday, May 24, 2022



Gujarat firm accused of cheating bank of Rs 40 crore, CBI lodges case

New Delhi, Dec 10, 2021- The Central Bureau of Investigation (CBI) on Friday said that it lodged a case against a Gujarat-based private firm and others including its promoters for allegedly cheating a bank of over Rs 40 crore.

A CBI official said that they filed a case against Vadodara-based Desai Distributors on a complaint by the Bank of Baroda’s Vadodara branch.

“Vikaramrai Balvantrai Desai, (Mrs) Hemali Narayan Desai, Narayan Dhirubhai Desai, Harishbhai Gulabrai Desai, (Mrs) Sarayuben Vikramrai Desai, Dhirubhai Thakorbhai Desai, and others were named as an accused in the FIR,” the official said.

It was alleged that during the period 2017 to 2021, the company was sanctioned various credit facilities by the bank, but it did not submit stock statements or CA certified book debts to the bank.

Further, the goods and the stocks hypothecated with the bank were not allegedly available with the borrower company at the time of unit inspection carried out by the bank. It was also alleged that the company had manipulated the books of accounts.

“We conducted searches at five locations of the company and recovered some incriminating documents. This will be used as an evidence against the accused persons,” said the CBI official.

The official said that they have recorded the statement of few persons in this respect, and a agency team is looking into the matter.  (Agency)

Subscribe to YesPunjab Telegram Channel & receive important news updates

- Advertisement -

Yes Punjab - TOP STORIES

Punjab News

Sikh News

Transfers, Postings, Promotions

- Advertisement -spot_img

Stay Connected






Trade focussed Quad – by Asad Mirza

The first in-person meeting of the leaders of the US, Australia, Japan and India, termed Quad, will be held in Tokyo on Tuesday. This...

How much and how often should courts adjudicate matters of religous fervour? – by Adeel Ahmed

New Delhi, May 22, 2022- In the old city of Jerusalem, there lies a 187-foot long ‘Western Wall, built by Herod on the western...

Cyber security conundrum – by D.C. Pathak

Sometimes the roots of a problem are obscured by discussions on the 'enormity' of its possible repercussions -- some of this is happening in...


Health & Fitness

Preterm birth: Warning signs that indicate complications during pregnancy

New Delhi, May 23, 2022 - Preterm birth, defined as a baby born before 37 weeks of pregnancy, is a leading cause of infant death and can result in long-term disabilities for those who survive. Each year, approximately 1 million children die as a result of preterm birth complications. According to the World Health Organization, many survivors will live...

Gadgets & Tech