The CBI here today registered a case of cheating and forgery against a private firm and its five directors for causing a loss of more than Rs 800 crore to state-run Bank of Maharashtra.
"The Central Bureau of Investigation registered a case against a private firm Siddhi Vinayak Logistics Limited having its base at Surat and Mumbai along with its five Directors and others on a complaint from Bank of Maharashtra for causing a loss of Rs 800 crore by cheating and forgery," the agency said in a release.
The accused were identified as Roopchand Baid, Deepakkumar Roopchand Baid, Rajkumar Roopchand Baid, Laxmidevi Baid and Ravi Kothari.
The case has been registered under IPC sections 120 (B) (criminal conspiracy), 420 (cheating), 468 (forgery), 471 (using forged documents), and under the Prevention of Corruption Act.
Between Septemeber 2012 and March 2015, the directors obtained loans from the bank to purchase vehicles for their emoloyees. But the money was never used for the stated purpose, and was diverted elsewhere, it is alleged.
