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.
Cheema said the target to increase the sugarcane yield by at least 100 quintals per acre in the next two years has been set, which would further increase the income per acre around Rs 36,000.
While Congress leaders restrained from commenting on the meeting, sources close to Bittu said that there was nothing much in the meeting which was a courtesy call. However, recent instances of Congress leaders leaving the party have triggered speculation of another Congressman desetring the party.
The BJP-ruled Haryana will convene a day-long special session of the Vidhan Sabha on Tuesday. A cabinet meeting was held on Sunday under the chairmanship of Haryana Chief Minister Manohar Lal Khattar, who has condemned AAP moving a resolution in the Assembly to transfer Chandigarh to Punjab.
Talking to reporters on Thursday, Gursevwak Singh, the elder brother of Gurwinder Singh, who was one of the four farmers who died, said: "The case should be transferred to Delhi. We all know that the proceedings are being influenced here. No action was taken against the union minister despite his video threatening farmers having gone viral.
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Appreciating this initiative of Punjab Mandi Board, Mann said it would benefit to over nine lakh registered farmers, thereby furnishing J-Forms digitally to them for their agriculture produce sold in the markets on their WhatsApp account in real time i.e. immediately on sale being confirmed on the system by the 'arhtiyas' and buyers.
