The case has been registered against Shree Mahalaxi Corporation Limited for allegedly misusing various credit facilities given to it by the Bank.
The FIR alleged that the Directors of the company presented cheques under the credit facility without having any real transactions.
It said the company thus caused a total loss of Rs 164.99 crore and booked two Directors of the company--Gopal Kumar Agarwal and Banwari Lal Agarwal, the company and Chief Manager of State Bank of India, Jyoti Ranjan Kanungo, for alleged criminal conspiracy, cheating and corruption.
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