Breaking News
Bank fraud: CBI files case against 2 former directors of Reliance Telecom. india news

Bank fraud: CBI files case against 2 former directors of Reliance Telecom

New Delhi: The CBI has registered a case against former Reliance Telecom directors Satish Seth and Gautam Doshi along with some public servants on a complaint alleging bank fraud of Rs 115 crore by State Bank of India. The agency conducted searches at his residences in Mumbai in this connection. Various documents related to loan transactions have been recovered. The FIR has been registered under sections related to conspiracy, cheating and criminal misconduct under the Prevention of Corruption Act and abuse of official position under the IPC. Reliance Telecom has also been made an accused in this case. According to CBI, SBI was the lead banker and a member of the consortium of 11 banks which had sanctioned term loan facilities totaling Rs 735 crore to M/s. Reliance Telecom Limited SBI was the first bank to classify Reliance Telecom’s accounts as fraudulent and later filed a complaint with the CBI, based on which an FIR was registered. On Wednesday, a 12-member CBI team also reached the SBI office in Mumbai.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *