The CBI has booked the Chairman-cum-Managing Director of a Hyderabad-based private company and eight others for allegedly cheating the State Bank of India to the tune of over 65 crore rupees. 

The agency has registered the FIR against the company, its Chairman-cum-Managing Director Narendra Kumar Patel and eight others including the Directors of the company. 

It was alleged that the company Jay Ambe Gowri Chem Limited was banking

with the SBI since 2009 which took over the credit facilities then provided by Axis Bank. 

The credit facilities included Cash Credit, term Loan and Letter of Credit. 

CBI said, this account became NPA on 30th of April 2014 and was subsequently declared as fraud and reported to RBI in October, 2016. 
It was further alleged that the company had removed the stocks without the consent of the bank.

No Comments For This Post, Be first to write a Comment.
Leave a Comment
Enter the code shown:

Can't read the image? click here to refresh
etemaad live tv watch now

Todays Epaper

English Weekly

neerus indian ethnic wear
Latest Urdu News

Which Women's cricket team will win the Asia Cup 2024?

Sri Lanka