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.
An interstate ganja supplier was arrested and 305 kg of the contraband valued at Rs 2 crore in the international market was recovered from his possession in the national capital, an official said here on Tuesday. The accused was identified as Shyam Sundar, 29, a resident of Firozabad district in Uttar Pradesh.
The alliance promised Rs 10 lakh free annual health insurance for all Punjabis, Rs 2,000 per month to all women heads of 'blue card' families, 5 lakh houses and five marla plots each to homeless poor and hiking old-age pension to Rs 3,100 and shagun scheme of Rs 75,000.
In an interview to IANS, Ashwani Kumar, who was perceived as a loyalist of the Gandhi family and had supported against the 'G23' , said it was getting difficult to continue in the party. He also said he is open to join any other party.
Promising to work on the teachings of Sikh gurus with principles of non-discrimination and equality for all, Prime Minister Narendra Modi said on Monday that the NDA would form the government in Punjab and would free the state from drugs.
The government can't restrict fundamental rights in the garb of maintaining public order, the counsel for the girl students seeking permission to wear the hijab told the Karnataka High Court on Monday.
On February 14, 2019, a suicide bomber of the Pakistan-based Jaish-e-Mohammed (JeM) terror group attacked the CRPF convoy in Jammu and Kashmir's Pulwama district in which 40 personnel were killed.
