The Central Bureau of Investigation (CBI) has registered an FIR against Supertech Limited and its promoter, RK Arora for allegedly cheating IDBI Bank to the tune of Rs 126.07 crore, news agency PTI reported citing officials.
Those named in the FIR include Ram Kishor Arora, Sangita Arora, Mohit Arora, Anil Kumar Sharma, Vikas Kansal, Pradeep Kumar Goel, Anil Kumar Jain and Parul Arora.
On Saturday, the CBI conducted coordinated search operations at five locations linked to the accused, including official and residential premises in Noida and Ghaziabad, in connection with the case.
During the raids, agency officials seized cash amounting to Rs 28.5 lakh, CBI's spokesperson said in a statement.
The case was initiated following a complaint from IDBI Bank, which alleged that the accused had conspired to misappropriate sanctioned loan funds through fraudulent means.
According to the FIR, the bank alleged that the company and its directors submitted forged documents to secure credit facilities under false pretences. The loan account was subsequently declared a wilful default and categorised as fraudulent, allegedly resulting in wrongful losses totalling Rs 126.07 crore to IDBI Bank Ltd., the CBI said.
The Bank Securities and Fraud Branch of the CBI registered the FIR on the complaint of Hari Kumar Meena, DGM, IDBI Bank, NPA Management Group, New Delhi.
In his complaint, Meena alleged that the directors of Supertech Limited, which operates from an office in Sector 96, Noida, were involved in criminal conspiracy, cheating, forgery, use of forged documents as genuine, criminal breach of trust, and criminal misconduct.
Acting on the complaint, the CBI registered a case, citing an alleged conspiracy between the company's directors and unidentified public servants, through which IDBI Bank was defrauded of Rs 126.07 crore following a Rs 200 crore loan extended to the real estate firm.
*with Agency Inputs
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