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.
Both Chief Minister Charanjit Singh Channi and state Congress chief Navjot Singh Sidhu have urged Rahul Gandhi to announce a CM face well ahead of the polls, instead of going with the collective leadership.
The ministry of external affairs organised the summit virtually on Thursday which was attended by the heads of all five Central Asian countries -- Republic of Kazakhstan, Kyrgyz Republic, Republic of Tajikistan, Turkmenistan and Republic of Uzbekistan.
Harcharan Bains, Principal Advisor to SAD President Sukhbir Singh Badal, shared documents pertaining to the reported abuse of the state intelligence wing by a private company, Movedek Politico. Bains said there are credible reports that the highest-ranked police officers of the state were asked to collaborate with the private company in intelligence gathering.
Two-time Member of Parliament and Aam Aadmi Party (AAP) chief ministerial candidate Bhagwant Mann will be contesting from Dhuri in the February 20 polls in Punjab. The announcement was made by state affairs co in-charge Raghav Chadha in Mohali on Thursday.
The party alleged that family members of Charanjit Singh Channi, a leader of the Congress, are being targeted in order to create a perception and influence electors into believing that Sardar Charanjit Singh Channi through his family members and the Indian National Congress is involved in the allegations of money laundering.
A complaint against Prateek Yadav, the younger son of Samajwadi Party supremo Mulayam Singh Yadav, had been sent to the investigating agencies in 2021 alleging fake companies being run by him. Prateek Yadav has a brother-in-law, Aman Singh Bisht, the younger brother of his wife Aparna Yadav.
