The Central Bureau of Investigation (CBI) on September 14 said it has registered a case against Mumbai-based private company Ess Dee Aluminium (EDAL) and others, including its chairman and director, on allegations of having defrauded State Bank of India (SBI) of over Rs 338 crore.
The case was filed following a complaint by SBI, wherein it was alleged that the Mumbai-based company and the others accused in the matter entered into a conspiracy and submitted fake documents. The accused were allegedly involved in diversion of funds.
EDAL is a manufacturer of aluminium foils used as packaging material in the pharmaceutical, food, and fast-moving consumer goods (FMCG) sectors.
"An alleged loss to the tune of Rs 338.52 crore (approximately) was caused to SBI. Searches were conducted at the premises of accused/company in Mumbai which led to recovery of incriminating documents," the CBI said in a statement, adding that the investigation is underway.
This comes less than a week after another private company based in Mumbai, M/s Spanco and its directors had been booked by the probe agency on a complaint from the Central Bank of India, for causing an alleged loss of Rs 103.27 crore to the bank.
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