Rs 46.79 crore fraud in Union Bank of India, CBI files FIR

- Advertisement -

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.

- Advertisement -

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More News...

Latest

Canara Bank Chief Manager arrested in Rs 1.30 crore fraud case

Canara Bank Chief Manager arrested in Rs 1.30 crore fraud case

Flipkart partners with Axis Bank to launch its own UPI service

Flipkart partners with Axis Bank to launch its own UPI service

High Court Judge gets only Rs.15000 pension per month

High Court Judge gets only Rs.15000 pension per month

Maharashtra allows revised NPS pension for Government Employees

Maharashtra has revised NPS pension for Govt Employees

Bank Employees protest against Outsourcing and Privatization of Banks

Bank Employees protest against Outsourcing and Privatization of Banks

SBI Manager arrested for stealing Rs 3 crore Gold from customer’s Locker

SBI Manager arrested for stealing Rs 3 crore Gold from customer's Locker

UPI Data: Rs 18.28 lakh crore UPI transactions done in February, Check full report

UPI Data: Rs 18.28 lakh crore UPI transactions done in February, Check full report

Record Broken: RBI handles 4.1 crore NEFT transactions in a day

Record Broken: RBI handles 4.1 crore NEFT transactions in a day

5 Day Banking and Salary Hike for Bank Employees expected in June

Good news for Bankers! 5 Day Banking may be introduced in June

Banks will open on Sunday and other holidays for KYC in Chhattisgarh

Banks will open on Sunday and other holidays for KYC