CBI books 3 firms, 18 persons in Rs 136 cr SBI frauds

July 10, 2018
Mumbai:The CBI on Tuesday registered three cases against three companies, certain officials of the State Bank of India (SBI) and others for alleged fraud in the SBI totally worth Rs 136.93 crore, an official said here.

The cases followed searches conducted at 17 places in Mumbai, Raigad, Malegaon, and Amravati, including the office and residential premises of the accused and recovery of incriminating documents and other materials.

The first case pertains to alleged fraud of Rs 56.81 crore committed on the SBI, the second for Rs 49.99 crore and the third involves a sum of Rs 30.13 crore.

The CBI said that the three private companies enjoyed bill discounting facilities against the Letters of Credit issued by SBI, D. N. Road Branch and PM Road Branch, Fort here.

However, these bills were returned unpaid by the banks concerned, since it was observed that there were instances of diversion of funds and misrepresentations by the companies.

“The SBI’s internal enquiry also revealed irregularities such as raising multiple invoices, false lorry receipts showing incorrect vehicle registration numbers and vehicles other then heavy goods transport vehicles being shown as means of transportation,” a CBI statement said.

In the first case the accused are: Top Worth Pipes and Tubes Pvt. Ltd (TPTPL) and its directors Abhay Narendra Lodha, Shishir Shivaji Hiray, Harshraj Shantilal Bagmar, Thyagaraju Inamanamelluri, a former AGM with SBI, Vilas Narhar Ahirrao, ex-Deputy Manager, SBI, Madhura Mangesh Sawant, the then Deputy Manager (Bills), SBI and other unknown public servants/private persons.

In the second case, the CBI named Maheep Marketing Pvt Ltd (MMPL), its directors Gajendra Sandim, Hemant Sanghvi, as well as Inamanamelluri, Ahirrao, Sawant and other unknown persons/officials.

The third case is filed against Harsh Steel Trade Pvt Ltd (HSTPL), its directors Chetan Jitendra Mehta, Mahadev Ramchandra Shringare, Jagdish Kulkarni, the then SBI AGM, Sadanand Girkar, the then Deputy Manager, SBI and others.

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