CBI books Educomp, its directors for defrauding banks of Rs 1,955 crore

The CBI booked Educomp Solutions, its subsidiary and directors for allegedly defrauding an SBI-led consortium of 13 banks to the tune of Rs 1,955 crore and carried out searches at eight locations on Tuesday, officials said.

The agency booked Educomp Solutions Ltd, its managing director Shantanu Prakash, guarantor Jagdish Prakash, its subsidiary Edu Smart Services Pvt Ltd and directors Vijay Kumar Choudhary and Vinod Kumar Dandona, they said.

After filing the FIR, the agency carried out searches at eight locations in Delhi, Dehradun and Gurgaon on the premises of Educomp Solutions, Edu Smart and its directors, the officials said.

The account was declared a non-performing asset in 2016, they added.