Searches at five different locations were carried out by the CBI in the Uttar Pradesh’s Aligarh and the Nations capital Delhi after registering an FIR against a company tied up to a meat export over a supposed banks fraud case in Central Bank of India, Bank of Baroda, Punjab National Bank and Indian Bank of Rs. 221.72 crore.
The company was authorized to credit facilities in 2011 of Rs. 200 crore, which was enhanced to Rs. 357.61 crore during March-September, 2015 stated by an official.
R.K. Gaur CBI spokesperson told that “It was also alleged inter alia that the credit facilities were required to be used for making 100 percent export, but the company utilized export credit facility to fund the domestic sales. It was also alleged that the borrower company transferred the funds to various related companies without any underlying business activities,”
On Thursday searches were conducted in New Delhi and Aligarh at five locations including the residential and official premises of the person accused in the banks fraud case.
Some important documents related to the case were also recovered by the search team, an official told.
Also on August 20, The Income Tax (IT) Department authorities raid out a somewhat smart strategy to recuperate black money from prominent businesspersons that remains within their homes. The IT division authorities acted themselves like COVID-19 warriors and went into the houses, eventually raiding them.
The raid revealed near 100 properties and resources worth crores of rupees. This incorporates land responsibility for cricket grounds alongside properties in different areas of Bhopal and its abutting locale, Sehore, as per sources. They further said that money in the estimation of Rs 1 crore was likewise recouped and seized from them.
As indicated by the sources, these raids can prove to be beneficial in furnishing the subtleties on associations with power-driven legislators, cops, and organization authorities. Revealing the illicit resources purchased by well off individuals could likewise be seen. This thusly can help in controlling the ever-expanding development of corruption in the nation.
