CBI registers case against private firm for cheating SBI

New Delhi: The CBI has registered a case against a private company Trimax IT Infrastructure & Services Ltd (TIISL), Surya Prakash Madrecha and others for allegedly cheating SBI and other consortium member banks to the tune of `862.06 crore during the period 2009 to 2017.

The CBI on Monday conducted searches at the premises of the accused.

The case was registered on a complaint from State Bank of India (SBI) against the private company and others.

“It was further alleged that during the period 2009 to 2017, the accused



were

sanctioned credit facilities under consortium banking which were enhanced from time to time,” the agency said in a statement.

The accused directors of the company, in conspiracy with others, manipulated the books of accounts, diverted the funds released by

banks and thereby cheated seven consortium member banks including State Bank of India to the tune of `862.06 crore, it said.

Searches were conducted at nine locations including residential and office premises of the accused at Mumbai and Kolhapur.