The Central Bureau of Investigation (CBI) announced on Monday that it has initiated legal action against a privately-owned company based in the city. The company’s directors, along with other individuals, are accused of defrauding Union Bank of India of an amount totaling Rs 46.79 crore. As part of the investigation, the CBI conducted searches at various locations in Ahmedabad, including the company’s premises. During these searches, the agency uncovered incriminating documents and articles.
According to the CBI, an FIR has been lodged against ‘Greendiamz Biotech Pvt Ltd’, as well as its directors Champat Sanghavi, Deepak Champat Sanghavi, and Ashwin Shah. The FIR also includes charges against unnamed public servants and private persons. The accused individuals are alleged to have diverted the loan provided by the Ahmedabad branch of the government-run bank. They purportedly obtained the loan by submitting forged documents and false information, thus committing crimes such as criminal breach of trust, cheating, and misappropriation of public funds.
The fraudulent actions of the private company have resulted in a significant loss of Rs 46.79 crore to the central government lender, according to the CBI’s release.