The Central Investigation Office filed a company against a real estate developer based in NOIDA SuperTech, its promoter RK ARORA and others for alleged cheating IDBI bank on the melody £126.07 Crore, officials said on Saturday.
Together with Arara, the wholegrain directors of the construction company Sangita Arara, Mohit Arara, Parul Arara, Vikas Kansal, Pradeep Kumar, Anil Kumar Sharma and Anil Kumar Jain were appointed in the company, except the company itself.
On Saturday, CBI officials performed coordinated search operations at five places associated with the accused. Search was carried out in the official and residential areas in Noida and Ghaziabad in connection with the case.
During the raids, the agency officials confiscated cash in the amount £28.5 Lakh, CBI spokesman said in his statement.
Idbi Bank Complaints
The case was launched on the basis of a complaint from IDBI Bank, which claimed that the accused had conspired to abuse sanctions by fraudulent means.
According to companies, the bank claimed that the company and its directors submitted the documents created to secure credit equipment under fake pretexts.
The credit account was subsequently declared intentional default and categorized as fraudulent, allegedly led to incorrect losses £126.07 Crore at IDBI Bank Ltd., CBI said.
SC orders a probe into supertech projects
The Supreme Court in April, which observed the “wicked” connection between banks and developers, ordered the CBI to register a preliminary investigation of the projects of Realty Major Supertech Limited in the NCR.
The Justices Surya Kant and N Kotiswar Singh took into account the affidavit of the CBI, and directed UP, Haryan DGPS to provide a list of DSP, Inspector, Constabty to the agency to form a special investigation team (SID).
The Supreme Court also ordered the CEO/Administrators of the Office for Greater Noid, Authority Noid, Ministries for Housing and City Affairs, Institute for Authorized Accountants and RBI to announce one knot of their top officers within one week.
The Top Court previously stated that thousands of Homebuyers were affected by a subvent system where banks paid 60 to 70 percent of the housing loan to builders without completing the projects at a specified time.
The Top Court then ordered CBI to present a plan on how to reveal the “Nexus” builder “, which cheated on thousands of Homebuyers in NCR and suggested going to the root of the matter.
(This is an evolving story. See back on the updates)
(Tagstotranslate) Central Office for Investigation (T) SuperTech (T) RK ARORA (T) cheating IDBI bank
