The Central Bureau of Investigation (CBI) today conducted searches at ten places including Kolkata, Gurugram, Jamshedpur, Nagpur and Kanpur in connection with the allegation of cheating against Kolkata's Union Bank of India (UBI) and CFB.
A case has been registered on complaint of the UBI against accused Ashish Jhunjhunwala, Naveen Gupta, Ayush Lohia, Lalit Mohan Chatterjee, Bimal K. Jhunjhunwala, all private persons and directors and public servants working then as nominated and independent directors of Ramsarup Industries Ltd., namely Debashish Sarkar, presently General Manager of Industrial Development Bank of India (IDBI), former executive director of Vijaya Bank and retired IAS officer Krishan Murari Lal.
The allegations are that the accused cheated the UBI, the CFB, Kolkata to the tune of Rs. 184.43 crore (approx) through the loan account of Ramsarup Utpadak (Unit-II) of Ramsarup Industries Ltd. by diverting a sum of Rs. 130.95 crore to a group company M/s RAV Dravya Pvt.
Further details are awaited.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app