Bank fraud case: In yet another incident of bank fraud case, the Central Bureau of Investigation (CBI) on Friday detained a director of a Ludhiana-based private company. Neeraj Saluja, the director of M/S SEL textiles ltd, has been arrested in connection with a Rs 1530.99 crores fraud case in the Central Bank of India.
The CBI had booked the yarn and fabrics manufacturing company, which has units at Malout and Nawanshahr in Punjab, Nemrana in Rajasthan and Hansi in Haryana, on August 6, 2020, along with its directors on a complaint from the bank.
It has been alleged that the accused, which also includes a private corporation and its directors, defrauded a group of 10 banks, led by the Central Bank of India, resulting in fraud of around Rs 1530.99 crores.
Earlier on August 6, 2020, the CBI had booked the yarn and fabric manufacturing company, along with its directors, in response to a bank complaint. Later, the officials had also conducted searches at the premises of the accused which led to the recovery of several incriminating documents.
According to reports, this company has units in Nemrana in Rajasthan, Hansi in Haryana, and Malout and Nawanshahr in Punjab.
Saluja to be produced before a special court in Mohali
The officials informed that Salujia will be produced before a special court in Mohali on Saturday, October 29.
“It was alleged that huge amounts of bank loans were diverted by the accused to its related parties and subsequently, adjustment entries were made. It was also alleged that the accused had shown procurement of machinery from non-reputed suppliers and thereby over-invoiced the bills,” a CBI spokesperson said in a statement.
He further said Saluja has been accused of disposing of a sizable amount of primary security against the credit limit, including stock and finished items, in order to defraud money from the bank because the sale revenues of the goods were not deposited with the bank.
According to the spokesperson, the CBI interrogated several people as part of the probe and the SEL textiles director was found to be evasive in his responses.
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