No hearing was held in the 2018 loan fraud case involving around ₹4 crore at Punjab National Bank’s Chandra Nagar branch in Ghaziabad. The hearing could not take place because the presiding officer was on leave. The next hearing has now been scheduled for August 26.
CBI Allegations
According to the CBI, Lakshya Tanwar was allegedly involved in a conspiracy with the then Branch Manager Utkarsh Kumar, Deputy Manager Priyadarshini, Daksh Kumar, proprietor of M/s Shivi Steel, Anil Kumar Sharma and others.
The CBI alleges that a cash credit limit of ₹4 crore was sanctioned to M/s Shivi Steel using forged and fabricated balance sheets, valuation reports and other documents.
Loan Money Transferred Through Related Accounts
The prosecution alleges that accounts linked to M/s Shivi The Winter House, a firm owned by Lakshya Tanwar’s wife Priyanka Tanwar, and other related accounts were used for transactions involving the loan amount.
According to the allegations, around ₹2.48 crore and ₹2.49 crore were transferred through M/s AB Associates, a firm owned by co-accused Anil Kumar Sharma. The money was later transferred to the account of M/s Shivi Steel through RTGS in several installments.
Alleged False Business Transactions
The prosecution claims that these transactions were carried out to create the appearance of genuine business dealings. The CBI alleges that the transactions were actually connected to the fraudulent loan arrangement.
Forged Documents Allegedly Used
The prosecution further alleges that Lakshya Tanwar knew that the valuation reports, financial statements and other documents submitted to the bank were forged and fabricated. Despite this, the documents were allegedly presented to bank officials as genuine and authentic. The case is currently pending before the court, with the next hearing scheduled for August 26.
