CBI has registered a case against three directors and promoters of a private firm for allegedly siphoning off funds worth Rs 49.95 crore from State Bank of India (SBI) through forged and fabricated documents.
The agency has registered a case against Ashish Garg, Sunil Kumar Garg and Anuj Garg, the then Promoters and Directors of Delhi-based Mastermind Trade-in Pvt Ltd, the company and unknown public servants and private persons on the complaint of SBI, sources said.
"It was alleged in the complaint that the accused persons in connivance or criminal conspiracy with the branch officials and with each other siphoned off the bank funds by misrepresentation, fabrication or forgery of documents. An alleged loss of Rs 49.95 crore (approx) was caused to the complainant bank," CBI spokesperson said.
She said searches were conducted at the premises of accused persons at four locations at Delhi and Noida in Uttar Pradesh, which led to recovery of around Rs 59 lakh in cash, foreign currency worth Rs three lakh and other incriminating documents.
