Canara Bank has moved to the Central Bureau of Investigation with a complaint of fraudulent transactions worth Rs 515.15 crores against Kolkata-based R P Infosystem and its directors.
The complainant alleged the bank fraud was committed through the borrowal accounts of the company in criminal conspiracy on 10 member banks of the consortium comprising Canara Bank, State Bank of India, State Bank of Bikaner & Jaipur, Union Bank of India, Allahabad Bank, Oriental Bank of Commerce, Central Bank of India, Punjab National Bank, State Bank of Patiala, and Federal Bank by availing bank funds on the basis of false and fabricated stock/receivables/debtors statements, forged drawing power letter, etc.
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