CBI has registered a case against a private company for alleged non-payment of Rs 231 crore of loans from a public sector bank by diverting the loan money to other purposes.
CBI spokesperson Devpreet Singh today said that searches are being conducted today at the official and residential premises of accused at Silvasa and Mumbai.
She said a Mumbai-based company having offices in Silvasa had allegedly entered in criminal conspiracy to avail loan from cosortium of banks, led by Bank of India, for setting up in Ichalkaranji, Kolhapur (Maharashtra) in the year 2008.
"However, instead of using the money for the purpose for which it was sanctioned, the company has allegedly cheated the said consortium of banks following which, the consortium suffered a loss of Rs 231.84 crore, including the loss of Bank of India which was Rs 66.16 crore," she said.
Later, the sources said then Chairman of the company will soon be called along with their chartered accountant explain their position.
The company had allegedly also approached corporate debt restructuring cell to restructure their loans, and had made some payments which prompted banks not to declare the loans as Non-performing assets.
