Rs 411-crore fraud: SBI approaches CBI as three loan defaulters flee India

Besides SBI, other members of the consortium that has been cheated are Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank

Three promoters of Ram Dev International, recently booked by the Central Bureau of Investigation (CBI) for allegedly cheating a consortium of six banks to the tune of Rs 411 crore, had already fled the country before State Bank of India reached the agency with a complaint, officials said on Saturday.

The CBI had recently booked the company engaged in export of Basmati rice to West Asian and European countries and its directors Naresh Kumar, Suresh Kumar and Sangita on the basis of a complaint from SBI, which suffered a loss of more than Rs 173 crore, they said.

The company had three