The business loan, too, turned NPA on November 29, 2016, therefore leading to its very first exceptional loan of Rs 97.85 crore (as supposed scams) and the fresh business loan of Rs 109.08 crore (as fresh exceptional), stated CBI Spokesperson Abhishek Dayal.
On Sunday, the CBI carried out searches on the residential and official premises of the accused in Delhi and Uttar Pradesh, an official said.
An FIR has been registered by the Central Bureau of Investigation against one of the largest sugar refining companies for alleged cheating Oriental Bank of Commerce (OBC), reported the Times of India. The bank and CBI have actually declared that Gurpal Singh is Deputy MD of the business while Simbhaoli's site claims he is a Director.
One of the senior management executives of the company is said to be related to a top political leader in Punjab.
'Not waived off loans for any industrialist, Rahul is lying': Amit Shah
Since their vote is widely believed to be decisive in 110 of the 224 Assembly constituencies, Lingayats are politically powerful. Gandhi further said that the Karnataka government provides "subsidised education" and free education to girls.
The OBC was hit by the disclosure of Rs 390-crore scam on Saturday involving a Delhi-based diamond jewellery exporter in bank loan fraud.
The lender, Oriental Bank of Commerce, complained to the CBI on November 17, 2017, but the agency registered a case of criminal conspiracy and cheating under the Prevention of Corruption Act on February 22. Earlier, CBI sat on OBC's complaint in Dwarka Das case for six months. The loan was sanctioned for financing individual/Joint Liability Groups (JLG) /Self Help Groups (SLG) sugarcane farmers for the tie-up arrangement under RBI scheme to the Simbhaoli Sugars Ltd during the period from January 25, 2012 to March 13, 2012, in December 2011. The amount was lent to the farmers through individual loan accounts and credited to the current account of Simbhaoli Sugars based on an undertaking given by the company regarding equipment and supplies provided to the individual farmers.
It ended up that Simbhaoli provided incorrect KYC certificates in the names of farmers. It is alleged that the funds so raised were fraudulently diverted by the company for its needs. In this manner, OBC declared, Simbhaoli Sugars has actually abused the cash provided by it and "there is clear cut department of funds". The FIR filed by agency focuses on two loans - Rs 97.85 crore which was declared fraud in 2015 and another corporate loan of Rs 110 crore which was used to repay the previous loan.