The Central Bureau of Investigation (CBI) said on Monday that it has registered a loan fraud case against Parth Foils Pvt. Ltd. (PFPL), its Director Partho Bijoy Dutta and others on based on a complaint filed by the State Bank of India.
The CBI said that PFPL through it’s director availed credit facilities based on manipulated book debt statements, financial statements with inflated figures, income and profit in order to be able to draw higher volume of amounts from the banks.
After availing the loan, they diverted the entire amount without its end utilisation, causing a loss of Rs 80.73 crore to SBI.
“Searches were conducted at several places in Mumbai, Ghaziabad and Baddi in Himachal Pradesh, which led to the recovery of incriminating documents, hard-discs, electronic gadgets etc.,” said a CBI official.
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