The Central Bureau of Investigation (CBI) has filed a chargesheet in the Court of Additional & District Session Judge, Mohali (Punjab) against a private company based at Ludhiana and others including its three Directors, Statutory Auditor and its two group concerns based at Punjab in an on-going investigation of a case related to bank fraud of Rs. 1530.99 crore (approx).
CBI had registered the instant case on 06.08.2020 against the private company based at Ludhiana & others including its Directors; unknown public servants & private persons on the allegations of bank fraud.
Name of the accused in chargesheet:
M/s SEL Textiles Ltd., Neeraj Saluja (Director), Dhiraj Saluja (Director); Navneet Gupta (Director), Ram Dass Khanna, Partner, M/s Dass Khanna & Co. (Statutory Auditor of M/s SEL Textiles Ltd.) and its group concerns namely M/s Rhythm Textiles & Apparels Park Ltd. and M/s Silverline Corporation Ltd.
It was alleged that the accused including private company & its Directors had cheated the consortium of 10 banks, led by Central Bank of India, causing fraud of Rs. 1530.99 Crore (approx).
It was further alleged that huge amounts of bank loans were diverted by the accused to its related parties and subsequently adjustment entries were made.
It was also alleged that the accused had shown procurement of machineries from non-reputed suppliers and thereby over-invoiced the bills.
Huge amount of primary security against CC Limit i.e. Stock, Finished Goods, etc. were allegedly disposed off by the accused to misappropriate bank money as sale proceeds of goods sold, were not deposited with the bank.
The said private company based at Ludhiana (Punjab) and having its Units at Malout, Nawanshahr (Punjab), Nemrana (Rajasthan) & Hansi (Haryana) was into the business of manufacturing of Yarns, fabrics, etc.
Searches were earlier conducted on 14.08.2020 at the premises of the accused which led to recovery of several incriminating documents. LOCs against the accused were opened.
During investigation, CBI had examined several persons. One of Directors was arrested as he was found to be evasive in his replies. He is in Judicial Custody.
Further investigation is continuing.
