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CBI books pharma firm directors; officials of Dubai, Patial-based companies in bank fraud

Press Trust of India  |  New Delhi 

The CBI has registered a case against Surya Pharmaceuticals, its directors and officials of three companies based in and for allegedly cheating a consortium of five banks to the tune of Rs 621 crore, officials said today.

A case has been registered on charges of criminal conspiracy, cheating, forgery under the provisions of the Prevention of Corruption Act against Surya Pharmaceutical Ltd., its promoters and directors and

Pramod Aggarwal, of Dubai-based and of Nimbus FZE, and Suhail Goel, of Patiala-based have also been booked.

"Searches were conducted today at seven places -- two each in Delhi, and and one in Panchkula -- at the offices and residences of the accused which led to the recovery of certain documents," the CBI said here.

It is alleged that the accused defrauded the Punjab and and four other banks of the consortium to the tune of about Rs. 621 crore by diversion and siphoning off the loan through its sister concerns and not utilizing the credit for the purpose it was sanctioned i.e., of pharmaceuticals, the said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 17 2018. 21:45 IST