The Central Bureau of Investigation (CBI) on Monday said it has booked a Ludhiana-based company—SEL Textiles Ltd—and its directors for allegedly defrauding a consortium of 10 banks to the tune of Rs 1,530.99 crore.
Officials in the agency said the directors of the conglomerate—Ram Sharan Saluja, Neeraj Saluja and Dhiraj Saluja—have also been named as accused in the FIR registered by the CBI along with a number of unidentified others.
They said the probe agency acted following a complaint submitted to it by the Central Bank of India, which alleged that the company and its directors indulged in criminal conspiracy to defraud the banks and divert loan funds with an intention to misappropriate them between 2009-13, causing a loss of Rs 1,530.99 crore to 10 public sector banks of the consortium.
According to the complaint filed by the Central Bank of India, the officials said besides the complainant having exposure of 26.41 per cent of the total Rs 1,530 crore others include Allahabad Bank with 13.80 per cent, Punjab National Bank 7.08 per cent, Indian Overseas Bank 7.08 per cent, Bank of Maharashtra 6.04 per cent, Punjab & Sindh Bank 4.20 per cent, Corporation Bank 7.23 per cent, Union Bank of India 3.08 per cent, United Commercial bank 7.22 per cent and United Bank of India 1.39 per cent.
Reference source: https://www.tribuneindia.com/news/punjab/cbi-books-ludhiana-based-sel-textiles-ltd-directors-in-rs-1-530-crore-bank-loan-fraud-case-127420