CBI registers 2 separate cases against two cos for loan fraud of Rs 93.92 cr
12 Jun 2020 07:58:23
Special Correspondent :
ANTI-CORRUPTION Wing of Central Bureau of Investigation (CBI) here registered two separate cases against city-based Linkson Ispat and Energies Pvt Ltd, Linkson International Ltd, their chairman-cum-managing director, directors, some officers of Punjab National Bank (PNB) and bank guarantors, pertaining to loan frauds of Rs 93.92 crore.
The country’s premier investigation agency booked Yashwant Lalchand Sangla, Chairman-cum-Managing Director of Linkson Ispat and Energies Pvt Ltd, Director of Linkson International Ltd and others, on charges of cheating, forgery, criminal conspiracy and corruption. Others booked in these two cases include directors Kumar Gaurav Sangla, Manju Sangla, Shweta Kumar Gaurav Sangla, Barkha Yashwant Sangla, all residents of Plot No 300, Hennessy Road, Civil Lines, Anand Laltaprasad Chaturvedi, a resident of Plot No 156, Indrayani Nagar, Besa Beltarodi Road, senior executives of Linksons Coal & Minerals Pvt Ltd, Linksons Projects & Infrastructure Pvt Ltd, Lyra Housing & Finance Pvt Ltd and a few PNB officers.
The complaint lodged by Manoj Kumar Ray, Assistant General Manager, Asset Recovery Management Branch, PNB, Kingsway, Nagpur, stated that the fraud took place between 2007 and 2014. The case against Linkson International Ltd pertains to a loss of Rs 62.92 crore while that of Linkson Ispat and Energies Pvt Ltd is about Rs 31 crore. The complainant alleged that the companies trading in coal allegedly availed the facilities on the basis of forged documents and diverted the loan funds to companies having common directors. The accused persons allegedly connived with some PNB officers and fradulently obtained credit facilities on the basis of forged documents and siphoned off the loan amount for wrongful gains causing a loss of public money to the tune of Rs 93.92 crore.
The complainant also alleged that the Chartered Accountant signing the financial records of the accused companies was suspected to be receiving funds from them. On the basis of the complaint, CBI registered an offence under Sections 120B, 420, 465, 468, 471 of the Indian Penal Code, read with Sections 13(2),13(1)(d) of Prevention of Corruption Act against the accused persons. Inspector Kavita Isarkar is investigating the cases under the supervision of Superintendent of Police (CBI) P K Pande.
CBI conducts searches in city SEPARATE teams CBI officers conducted search operations at four different locations in the city, including the residential premises of accused Sanglas at Plot No 300, Hennessy Road, Civil Lines and office of Linkson Ispat and Energies, MIDC Industrial area Butibori, on Thursday. The bureau officers seized incriminating documents, including loan related papers and electronic data, from these places.