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Rs.130 crore fraud in Punjab National Bank, CBI Case filed against DGM and CGM


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A special CBI court in Chandigarh has charged five individuals in connection with an alleged ₹130 crore bank fraud involving Shri Vishnu Overseas Private Limited (SVOPL).

The accused include:

  • Two Punjab National Bank (PNB) officials: Ravi Rashmi Dhar, the then DGM, and Naresh Kumar Jain, the then Chief GM.
  • Chartered Accountant Vinod Garg.
  • SVOPL directors Sat Narain Mittal and Yogesh Mittal.

Charges have been framed under various sections of the Indian Penal Code (IPC) and Prevention of Corruption Act (PCA). The sixth accused, SVOPL director Vishnu Bhagwan Mittal, remains uncharged due to his absence from court proceedings.

The Scam: From Loan Approval to NPA

The case dates back to 2015, when SVOPL, a rice processing and sales company, secured a ₹115 crore loan from a consortium of PNB and UCO Bank, Sector 17, Chandigarh, for business expansion.

However, allegations arose that SVOPL submitted forged financial documents and misused loan funds. Subsequently, in 2017, both banks declared the loan account as a non-performing asset (NPA) due to non-repayment.

Prosecutors claim that SVOPL directors diverted funds and caused a loss of ₹130 crore to public banks, exceeding the initial loan amount by ₹15 crore. The investigation was initiated based on a complaint filed by the Chief Manager of PNB’s LCB Sector 17 branch in January 2020.

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