Kareena Eugene
The CBI (Central Bureau of Investigation), in connection with three separate cases, has filed many charge sheets against multiple companies and their functionaries for allegedly cheating the UBI (Union Bank of India) of about ₹150 crore.Two senior functionaries of the Union Bank of India among the accused persons.
Two senior functionaries are part of the accused.
Thirteen accused persons and companies have been called before Court in the first charge sheet, while sixteen have been only mentioned in the other two charge sheets.
Among the accused were the then Bank’s Regional Head, Ashok Dhabai, and the then Zonal Head, Sanjay Sharma.
Along with them Supama Trading, Excel Metal Processor, Asuti Trading, their functionaries; Navmi Steel Traders, Ratnesh Ispat Services, Sanjar Steel, Metacraft Alloys Private Limited and Geeta Mercantile have also been mentioned.
They had allegedly submitted fake tax invoices, forged lorry and bills of exchange receipts while discounting the Letters of Credit from various Banks. The group’s Chairman made his employees directors in various places, which were used to arrange the documents.
The CBI supposed that the borrowing companies and their directors got the Letter of Credit opened and in compliance with the Bank officials, without processing, appraising, assessing, internal rating and regular sanction from the competent authorities and without creating any mortgage.
On 29th June, 2019, the first case was registered, which involved credit facilities of ₹56.98 crore. On the same day, a second case was filed involving about ₹50 crore.
The accused are several private companies, their Directors, a Financial Consultant, Chairman of the group of Companies and two Bank officials and are in question.
On 9th March, 2020 a third case was registered alleging cheating of ₹42.91 crore.
