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CBI raids Mumbai businessman’s house in Rs 70 crore bank fraud case

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The Central Bureau of Investigation (CBI) raided the house of Vinod Jatia, a Mumbai-based businessman, in connection with a bank fraud case.

Mumbai,UPDATED: Dec 11, 2022 20:25 IST

The CBI recovered incriminating documents from the Mumbai businessman's house.

The CBI recovered incriminating documents from the Mumbai businessman’s house.

By Dipesh D. Tripathi: The Central Bureau of Investigation (CBI) raided the house of a Mumbai businessman in connection with a Rs 70 crore bank fraud case. A case was filed against businessman Vinod Jatia by the CBI on the basis of a complaint by Indian Overseas Bank.

The bank alleged that Dilshad Trading company, its promoters including Vinod Jatia and his family, and others had cheated the bank with the help of fabricated documents.

CBI sources said the accused company had entered into a settlement of receipts and payments with its debtors, creditors and related entities. Several transactions were entered into, though no transaction was entered in the books.

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Sources added that during the raid, the agency recovered many documents from the businessman’s house and office. The officials have reportedly recovered documents showing misappropriation of funds, as well bogus transactions and bill receipts.

Jatia Group’s housing projects being built in Pune and Navi Mumbai are also on the CBI’s radar in connection with the scam. The probing agency suspects that the money that has been misappropriated may have been used for these projects.

Further investigation in the case is presently underway.

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