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The CBI has booked MD and directors of Shakti Bhog Foods.
Delhi-based Shakti Bhog Foods Limited was booked by the Central Bureau of Investigation (CBI) on Friday for an alleged fraud of Rs 3,269 crore. The company, which sells packaged wheat flour, cookies and other items, has been accused of duping a consortium of 10 banks led by the State Bank of India (SBI).Â
The CBI has booked Kewal Krishan Kumar, MD of the company, and other directors Siddhrath Kumar and Sunanda Kumar, on a complaint lodged by the SBI, officials said.Â
According to the SBI complaint, the directors allegedly falsified accounts and forged documents to siphon off public funds.
New Delhi, January 1
The CBI has booked Delhi-based Shakti Bhog Foods Limited for an alleged fraud of Rs 3,269 crore on a consortium of 10 banks led by the State Bank of India (SBI), officials said on Friday.
On a complaint from the SBI, the agency has booked the managing director of the company, Kewal Krishan Kumar, and other directors Siddhrath Kumar and Sunanda Kumar, they added.
According to the SBI complaint, the directors allegedly falsified accounts and forged documents to siphon off public funds.
The 24-year-old company, which is into manufacturing and selling wheat, flour, rice, biscuits, cookies, etc., had grown organically as it ventured into food-related diversification over a decade with a turnover growth of Rs 1,411 crore in 2008 to Rs 6,000 crore in 2014, the bank said.
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Background
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