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SURAT: The Central Bureau of Investigation (CBI) on Thursday registered a case against a Surat-based company for defrauding a consortium of banks through forgery and diversion of funds to the tune of Rs 121 crore.
The company Surya Exim Pvt Ltd is into import of the non-cooking coal and polyester filament yarn.
The CBI officials conducted searches at the premises of the company in Surat and Navsari based on the complaint registered by Canara Bank—lead bank—on behalf of four member banks against the company directors, unknown public servants and unknown others.
It was alleged that, between 2017 and 2019, the company directors and other accused entered into a conspiracy to cheat a consortium of banks including Canara Bank to the tune of Rs. 121.05 crore by way of forgery and diversion of funds. The company was allegedly enjoying credit facilities, according to the official release issued by the CBI.