New Delhi, Aug 6: A Bhubaneswar-based private firm Sanjeet Granites and Exporters and its concerned officers have been booked by the Central Bureau of Investigation (CBI) for cheating Bank of Baroda to tune of Rs 323.07 lakh.
A senior CBI official said that they received a written complaint at their Bhubaneswar office from Bank of Baroda.
The said complainant requested for CBI investigation relating to the alleged fraud perpetrated by Surendra Pal, Proprietor of Sanjeet Granites and Exporters, Surendra Pal and Kusani Siva Prasad, Corporate guarantors and Partners S.S. Granites Park and Sanjeet Chowdry.
In the complaint, it was alleged that Sanjeet Granites and Exporters was established as a proprietorship firm on October 6, 2018. The firm was engaged in granite tile processing and sanctioned a term loan of Rs 290 Lacs for purchase of machinery by Bank of Baroda on November 15, 2019.
The loan was sanctioned against the hypothecation of plant and machinery and equitable mortgage of land and building. The firm had submitted the quotation of Rs 324.38 lakhs of Sodhi Engineering Industries for purchase of plant and machinery.
During the inspection and unit visit by the bank official, it was observed that only few machines were available and other machines were not available.
Further it was observed that the unit was not functioning and only two machines were available and other machines were not available as per the quotation given by the borrower for which the bank had disbursed the amount of term loan.
Due to non-payment of loan installments, the borrowal account of Sanjeet Granites and Exporters was classified as NPA in 2021 and the said borrowal account was declared as fraud in 2022.
“It was learned that the accused had submitted a fake quotation of Sodhi Engineering Industries where Sanjeet Chowdry was shown as the proprietor. No assets were created out of the bank fund. The amount of Rs 290 lakhs disbursed in the bank account of Sanjeet Granites and Exporters were disbursed in the fictitious account of the supplier Sodhi Engineering Industries,” reads the FIR.
The bank said that during verification of the said complaint it was found that Surendra Pal the Exporters Sanjeet Chowdry committed criminal conspiracy, cheating, forgery, in connection with the Term Loan of Rs 290 Lakhs. The accused were also given Rs 58 lakhs by bank and thereby caused wrongful loss of Rs 323.07 Lakhs to the bank.
The CBI after receiving the complaint have now lodged an FIR of cheating and forgery. Further investigation into the matter is going-on.