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.
The deceased, Sarabjit Singh Brar, was a resident of Laburnum Apartments at DLF Phase 1 in Gurugram. At the time of the incident that occured on Wednesday morning, Brar was at his flat along with his wife.
Joining the issue, newly-appointed state Congress chief Amrinder Singh Raja Warring targeted Mann over the Centre's interfering in the state's law and order matters in the context of the Punjab Governor's visits to the border areas.
On examination of their check-in-baggage, 43 gold cut-bits of 24k purity, weighing 2.493 kg and valued at Rs 1.20 crore, were found wrapped around laptop chargers with adhesive tapes.
The incident took place at Kusupur village in the state's Cuttack district. Accused Shiba Prasad Sahoo (42) confessed to the crime through a video message and sent it to his village sarpanch and few others. He later surrendered before Balichandrapur police in Jajpur district.
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