CBI registers cheating case against two hoteliers

Two partners of a resort in Himachal Pradesh have come under CBI probe for alleged default of loan of Rs 1.55 crore from the Central Bank of India.
CBI has registered a case against Rajesh Mukhyan and Neenu Shyam, both partners of Zoya Resorts and Hotels in Naldehra, Shimla and unknown officials of Central Bank of India under the IPC sections related to criminal conspiracy, cheating, forgery among others and provisions of Prevention of Corruption Act, sources said.
"It was alleged that both accused persons had availed a term loan of Rs 1.55 crore from Central Bank of India, The Mall, Shimla for setting up of a hotel and resort at Naldehra in Shimla and out of the sanctioned term loan of Rs 1.55 crore, an amount of Rs 1.25 crore was disbursed by the bank authorities," CBI Spokesperson R K Gaur said.

He said it was further alleged by the bank that out of the disbursed loan amount of Rs 1.25 crore, the accused persons invested a meagre amount of Rs 25-30 lakh (approx) towards the construction of the hotel whereas the remaining loan amount was mis-utilised by the borrower by diverting the funds for their personal use on the basis of fake and forged bills/invoices due to which the loan turned Non Performing Assets (NPA).
It was also alleged that the guarantor for loan sanctioned in favour of said resort and hotel was having an overdraft account with Central Bank of India in the name of a fruits company in which an amount of Rs 1.65 crore (approx) was outstanding.

"Searches were conducted at seven places in Shimla & Panchkula (Haryana) including the residential premises of accused person which led to recovery of several incriminating documents," he said.
When contacted, Mukhyan told PTI over phone that it was a simple case of non-performing assets.
"My brother-in-law is taking care of the business. He is a businessman and handles different businesses. It is possible that money went from one project to another and vice-versa. CBI can take this case to the court which will give its final verdict," he said.