New Delhi . The Central Bureau of Investigation (CBI) has raided several locations of AAP MLA Jaswant Singh and his family members in Punjab’s Malerkotla in connection with the bank loan fraud case.
90 blank checks signed by different persons, cash worth Rs 16.57 lakh, about 88 foreign currency notes, some property papers and other incriminating documents were seized by the CBI.
The CBI raided the premises of Balwant Singh, Jaswant Singh, Kulwant Singh, Tejinder Singh and a private firm Tara Health Foods Limited.
On the complaint of Bank of India, Ludhiana, a case has been registered against Tara Corporation Limited (renamed as Maloudh Agro Limited), Goonspura, Malerkotla and the then Directors and Guarantors of the private company, another private firm, unknown public servant and private person. After the search has been done.
The loan to the borrower firm was sanctioned by the bank at four intervals from 2011-2014.
The firm, through its directors, had concealed the pledged stock and diverted the loans with malicious and dishonest intention so that they could not be made available to the creditor bank for inspection and recovery as secured creditors.
This caused an alleged loss of Rs 40.92 crore to the bank.
The account was classified as NPA as on March 31, 2014 and based on the discrepancies, the account was declared as fraudulent as on September 2, 2018 with an outstanding amount of Rs 40.92 crore.
It is also alleged that the loan taken by the accused was utilized for the same purpose for which it was sanctioned.
—AnyTV News
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