CBI raids Chandigarh based pharma company in bank fraud case

[ad_1]

CBI raids Chandigarh based pharma company in bank fraud case


FILE PIC

CBI said that they have registered a case on a complaint from Central Bank of India and other member banks against Chandigarh-based Parabolic Drugs limited and others including Managing Director, other directors, guarantors on the defrauding of the banks.

It was alleged that the drug manufacturing company had cheated the consortium of banks to the tune of approximately 1626.74 crore rupees by criminal conspiracy, forgery, using forged documents and availed the loan funds and thereafter diverted the same.

Searches were conducted yesterday at 12 locations including Chandigarh, Panchkula, Ludhiana, Faridabad and Delhi at the office and residential premises of the accused which resulted in the recovery of incriminating documents, articles, cash amount of approximately 1 crore 58 lakh 96 thousand rupees.

,

[ad_2]

Source link

Previous post Tele-medicine technology is going to be the main pillar of India’s future health care system: Union Minister Jitendra Singh
Next post Vinay Kumar Tripathi appointed as new chairman, CEO of Railway Board