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The Central Bureau of Investigation (CBI) conducted searches at eight locations after booking Delhi-based dairy products company Kwality and its directors for allegedly cheating a Bank of India (BoI)-led consortium, causing a loss of over Rs 1,400 crore, officials said.
The CBI has registered the case against Kwality and its directors Sanjay Dhingra, Siddhant Gupta, Arun Srivastava, besides other unidentified persons, they said.
“It was alleged in the complaint that the said accused had cheated the Bank of India-led consortium comprising BoI (lead bank), Canara Bank, BoB, Andhra Bank, Corporation Bank, IDBI, Central Bank of India, Dhanlaxmi Bank, Syndicate Bank to the tune of Rs 1400.62 core (approx.),” CBI spokesperson R K Gaur said.
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