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 Shiromani Akali Dal (SAD) on Friday demanded transfer of state intelligence officials, including the top brass, who face charges of compromising the security of Punjab and indulging in electoral malpractices to provide "illegal, illegitimate and immoral" help to the ruling Congress.
Due to incessant rains and water logging of fields owing to overflow of nearby natural drains during September-October 2021 in Delhi, crops of farmers have been severely damaged, the Delhi government said in a release, adding that Chief Minister Arvind Kejriwal had taken cognisance of the matter and assessed that a relief package for crop damage was necessary to be provided.
The SKM also reiterated that the name, banner or platform of the Samyukt Kisan Morcha will not be used by any political party or candidate in the run-up to the Assembly polls in Punjab, scheduled on February 20.
Appearing for the Punjab government, Senior Advocate P. Chidambaram argued that Majithia has gone into hiding after the rejection of his bail plea in the Punjab and Haryana High Court, and now he is appearing through counsel.
Interestingly, the move comes a week after neighbouring Madhya Pradesh permitted liquor sales at all its airports, select supermarkets in four major cities and also allowed issuing home bar licences to those earning Rs 1 crore or more annually.
The incident took place on Wednesday and the accused are said to be illicit liquor sellers in the area. It has been alleged that the woman was also gang-raped. A video of the incident showed the woman being attacked.
