CBI Arrests Punjab Textile Company’s Chief In Rs 1500 Crore Bank Fraud Case

UP Siblings, Wanted In Separate Rape, Kidnapping Cases, Arrested In Delhi


The accused will be produced before a special court in Mohali tomorrow. (Representational)

Ludhiana, Punjab:

The CBI has arrested director of Ludhiana-based SEL Textiles Neeraj Saluja in connection with a Rs 1530.99 crore fraud case in the Central Bank of India, officials said on Friday.

The Central Bureau of Investigation (CBI) had booked the yarn and fabrics manufacturing company, which has units at Malout and Nawanshahr in Punjab, Nemrana in Rajasthan and Hansi in Haryana, on August 6, 2020, along with its directors on a complaint from the bank.

Neeraj Saluja will be produced before a special court in Mohali on Saturday, the officials said.

“It was alleged that huge amounts of bank loans were diverted by the 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,” a CBI spokesperson said in a statement.

The spokesperson said huge amount of primary security against the credit limit such as stock and finished goods were allegedly disposed off by the accused to misappropriate bank money as sale proceeds of goods were not deposited with the bank.

During investigation, the CBI had examined several persons and the director (Neeraj Saluja) was found to be evasive in his replies, he said.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Featured Video Of The Day


Source link

Written by admin

Leave a Reply

Your email address will not be published. Required fields are marked *

Azam Khan Jail: Azam Khan Of Team Akhilesh Gets 3 Years' Jail For Hate Speech: 10 Points

Azam Khan Disqualified As UP MLA After Conviction For Hate Speech

"Challenge Accepted": Furious Harbhajan Singh Gives Fiery Response To Former Pak Cricketer On Asia Cup 2023 Debate

“Important To Show Mirror To Such Teams”: Harbhajan Singh On Netherlands’ Loss To India At T20 World Cup