CBI registers FIR against export company for Rs 604 crore bank fraud

The CBI on Friday conducted searches at the premises of directors of Shree Bankey Behari Exports Pvt Ltd after booking them and the company in a bank fraud case of Rs 604 crore, officials said.

The agency has booked Shree Bankey Behari Exports Limited and its directors Amarchand Gupta, Shakuntala Devi, Ramlal Gupta, Rajkumar Gupta and unidentified others in the fraud case, they said.

The State Bank of India has complained to the CBI alleging that the company has availed credit facilities to the tune of Rs 625 crore (approx) and cheated members of consortium banks by way of forgery and using forged documents as genuine, the officials said.

"This caused alleged loss of Rs 604.81 crore (approx) to the banks. The consortium banks consisted of seven banks -- State Bank of India, Punjab National Bank, Vijaya Bank (now Bank of Baroda), Andhra Bank, Oriental Bank of Commerce, Syndicate Bank and Canara Bank," a CBI spokesman said.

Searches were carried out at the premises of the directors of the company in Delhi which led to recovery of various incriminating documents, he said.