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.
Sources said that BJP candidate and Union Minister S.P.S. Baghel has been provided 'Z' category security cover in Uttar Pradesh by Central Industrial Security Force while other BJP MP Dr Ramesh Chand has been given 'X' category security cover.
Accompanying AAP's chief ministerial candidate Bhagwant Mann in Mohali, near here, Kejriwal promised that for the safety of the businessmen, no leader or official would intimidate anyone or get him raided.
There has been a spurt in smuggling of contraband, arms and ammunition in view of the Punjab Assembly elections scheduled on February 20, while attempts were also made for infiltration along the Punjab border.
The police said that as per an initial probe, it has emerged that the four youths were busy clicking selfies on the tracks when they were hit by a train. The incident took place at 5.15 pm when the Jan Shatabdi Express, which was going from Sarai Rohilla in Delhi to Ajmer, was crossing the Basai-Dhankot railway station.
In a latest advisory issued on Tuesday, the Embassy of India in Kiev has asked Indian nationals in Ukraine, particularly students whose stay is not essential, to consider leaving the country temporarily in the wake of the current situation.
Ashish Mishra had moved the Lucknow bench of the High Court seeking insertion of sections 302 (murder) and 120 B (criminal conspiracy) of IPC that were 'inadvertently' not mentioned in the high court order as the jail authorities would not release him due to the omission.
