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After PNB And UCO Bank, Now Bank Of Maharashtra Duped Of Rs 9.5 Crores, FIR Lodged

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| February 24 , 2018 , 17:52 IST

Adding another name to the list of loan defaulters, the Central Bureau of Investigation (CBI) on Saturday filed an FIR against Delhi-based businessman Amit Singla over alleged loan default of Rs 9.5 Crore from the Bank Of Maharashtra.

CBI has booked M/s Ashirwad Chain Co-Proprietor and M/s Tech Mach international private Ltd for the alleged fraud and filed an FIR against Amit Singla, his father Roshan Lal, and mother Sumitra Devi.

As per reports, the company was sanctioned CC of Rs. 350 lakhs on October 27, 2010, which was raised to Rs.550 lakhs September 09, 2011, and further to Rs. 950.00 lakhs on August 22, 2012, the bank reported.

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Bank Of Maharashtra alleged that the accused persons submitted the inflated stock audit report and inflated balance sheet to avail the loan. Representing the forged documents and a false representation induced the bank to grant the amount.

Assistant General Manager of the bank, S.K. Saha conducted the investigation wherein a wide gap was found in the valuation of the properties collaterally secured with the bank at the time of sanction and enhancement with its present market value.