Central Bureau of Investigation HQ, in New Delhi.
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PTI
The 24-year-old company is into manufacture and sale of food items like wheat flour, rice, biscuits and cookies in northern India
The CBI has booked Delhi-based Shakti Bhog Foods Limited and others for allegedly cheating a consortium of 10 banks to the tune of ₹3,269.42 crore.
Among those named in the FIR are the company’s managing director, Kewal Krishan Kumar, and directors Siddharth Kumar and Sunanda Kumar.
The 24-year-old company is into manufacture and sale of food items like wheat flour (under the well-known brand name Shakti Bhog), rice, biscuits and cookies in northern India. In other regions, it has third party tie-ups.
CBI charges Shakti Bhog Foods for defrauding 10 banks of Rs 3,269 crore
CBI charges Shakti Bhog Foods for defrauding 10 banks of Rs 3,269 crore
The Central Bureau of Investigation (CBI) has filed an FIR against Shakti Bhog Foods Limited on the complaint of State Bank of India (SBI) for defrauding 10 banks to the tune of Rs 3,269 crore.
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The Central Bureau of Investigation (CBI) has filed an FIR against Shakti Bhog Foods Limited on the complaint of State Bank of India (SBI) for defrauding 10 banks to the tune of Rs 3,269 crore.
Along with the Delhi-based Shakti Bhog Foods Limited, the agency has named its Managing Director Kewal Krishna Kumar, directors Siddhrath Kumar and Sunanda Kumar as accused in the case.
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.