The Central Bureau of Investigation (CBI) on Sunday registered a case against the top management of M/s. Kudos Chemie Ltd, Chandigarh, for allegedly indulging in criminal conspiracy.
The case was filed under Section 120 B r/w Section 420, 467, 468 and 471 of the Indian Penal Code (IPC). The accused in the case are the company's three directors, namely Jitendra Singh, Kabir Sodhi and Gurmeet Sodhi
Investigation began after a complaint was received from the Punjab National Bank. It was alleged that the accused resorted to criminal conspiracy with unknown others and cheated the aforementioned bank to the extent of approximately Rs. 1, 301 crore by siphoning off the credit facilities availed by them using false and fabricated documents.
Investigation is underway in Chandigarh and Mohali.
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