The company allegedly entered into a criminal conspiracy with the Directors of Bholanath Ingots, Gouri Iron Steel Pvt Limited, Subhlabh Steels Pvt Limited and B K Newatia, Chartered Accountant Partner of Jaykishan Chartered Accountants, CBI spokesperson said here today.
"It is alleged that they availed credit facilities from Central Bank of India on the basis of false and forged documents and diverted the funds for the purpose other than for which the same was sanctioned and thereby cheated and defrauded the Central Bank of India to the tune of 139.05 crore," she said.
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