The CBI on Wednesday registered a case against Chennai-based jeweller Kanishk Gold Pvt Ltd (KGPL) for defrauding a consortium of 14 banks led by the State Bank of India (SBI) to the tune of Rs 824.15 crore in the form of loans now been declared a non-performing asset (NPA).
The agency also conducted searches at KGPL's office as well as official and residential premise of accused persons at various places in Chennai.
"A case has been registered against Kanishk Gold Pvt Ltd on the complaint from SBI on behalf of a consortium of 14 banks for cheating the consortium to an extent of Rs 824.15 crore. The accused persons have been contacted and asked to join investigation," said Central Bureau of Investigation (CBI) Spokesperson Abhishek Dayal.
--IANS
rak/vd
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