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The CBI has registered a case against Surya Pharmaceuticals, its directors and officials of three companies based in Dubai and Patiala for allegedly cheating a consortium of five banks to the tune of Rs 621 crore, officials said today.
A case has been registered on charges of criminal conspiracy, cheating, forgery under the provisions of the Prevention of Corruption Act against Surya Pharmaceutical Ltd., its promoters and directors Rajeev Goel and Alka Goel.
"Searches were conducted today at seven places -- two each in Delhi, Patiala and Chandigarh and one in Panchkula -- at the offices and residences of the accused which led to the recovery of certain documents," the CBI spokesperson said here.
It is alleged that the accused defrauded the Punjab and Sindh Bank and four other banks of the consortium to the tune of about Rs. 621 crore by diversion and siphoning off the loan through its sister concerns and not utilizing the credit for the purpose it was sanctioned i.e., manufacturing of pharmaceuticals, the spokesperson said.