Mumbai, 16th June 2021: The Central Bureau of Investigation (CBI) has registered a case on a complaint from Bank of Baroda filed on behalf of a consortium of lending banks against a Private Company having registered office at Mumbai, (Maharashtra) & Corporate Office at Indore (MP) and others including its Directors, unknown public servants etc on the allegations of bank fraud during the period 01/01/2016 to 31/12/2017.
It was alleged that the accused fraudulently indulged in the diversion of funds, speculation transactions, non-routing of sale proceeds in consortium bank accounts, transactions with related parties/sister concerns etc. and thereby caused loss of Rs 188.35 Crores (approx) to the lending banks. The other consortium banks such as Punjab National Bank and Jammu & Kashmir Bank have given their mandate to the Bank of Baroda to file the complaint with CBI on their behalf.
Searches were conducted today at six places including Indore, Mumbai and Bangalore at the premises of the accused which led to the recovery of various incriminating documents.
Name of the accused:-
i) M/s. Ruchi Global Ltd.
ii) Shri Umesh Shahra, Director
iii) Shri Saket Barodia, Director
iv) Shri Ashutosh Mishra, Director
v) Unknown public servants and others