CBI files charge sheet against Delhi-based firm in PNB loan fraud
Darpan News Desk IANS, 16 Jun, 2022 10:14 AM
New Delhi, June 16 (IANS) The Central Bureau of Investigation (CBI) said on Thursday that it has filed a charge sheet against a Delhi-based soft toy manufacturing company and others, including its promoters and directors, for defrauding a consortium of 12 banks led by the Punjab National Bank (PNB) to the tune of Rs 2,040.63 crore.
"We have charge sheeted Delhi-based company Hanung Toys and Textiles Ltd, including its promoters and directors -- Ashok Kumar Bansal, Anju Bansal, Associate persons Rishu Agarwal, Manoj Kumar Garg and Kali Kant Jha, Statutory Auditor Piyush Jain and company's Secretary Arvind Kumar Gupta under various sections of the IPC," a CBI official said.
The official added that a case was registered on September 25, 2020, against the private firm and others on the allegations of causing losses to the tune of Rs 2040.63 crore to the consortium of 12 banks led by PNB.
It was alleged that Hanung Toys and Textiles Ltd was engaged in manufacturing and export of stuffed toys, home furnishing items, dyeing and bleaching, and processing of fabrics.
The CBI during investigation came to know that the accused allegedly manipulated the books of accounts by suppressing the actual derivative loss and made false financial statements across the years from 2008-2013 in order to present the inflated financial worth of the company for the purpose of obtaining various credit facilities from the banks.
It was further alleged that the quantum of suppressed derivative loss were malafidely and incorrectly reflected as non-existent debtors as well as stock in its books of accounts, thereby resulting in excess borrowing of Rs 478.35 crore from the consortium of banks.
"The borrower company had inflated its turnover by entering into non-genuine transactions with certain parties. These trades were allegedly done in circular transactions amounting to Rs 560 crore in order to siphon money from the banks and diverted the funds for personal gains of the directors and promoters of the said company," said the CBI official.
Further investigation on the role of others in the matter is underway.
According to sources, Singh, a resident of Faridkot, was the person who had launched the attack on Monday. A rocket-propelled grenade or RPG was fired from the street that shattered the window panes of Punjab Police's intelligence headquarters in Mohali.
Lt Gen Aujla, an alumnus of the Indian Military Academy, Dehradun, was commissioned in December 1987 and has had an illustrious military career spanning 35 years during which he has held varied prestigious command, staff and instructional appointments.
The area around the Intelligence Bureau office has been sealed and investigation is in progress. A bomb disposal and forensic squads have been positioned at the spot. Chief Minister Bhagwant Mann spoke to Director General of Police V.K. Bhawra and sought details about the incident.
Notably, the police detained several people, including party workers, who were not allowing the SDMC to carry out the demolition drive at Shaheen Bagh. After the agitation was quelled, the bulldozer moved forward to demolish the illegal encroachment, an iron structure in front of a building. It is at this juncture that Khan reached the spot and was seen speaking to the officials.
Punjab shares a 553-km barbed-wire fenced international border with Pakistan which is under the vigil of nearly 135 BSF battalions. The drug network operates along the Afghanistan-Pakistan-India route.
