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CBI registers FIR against private company for loan default

PTI     March 27, 2018

New Delhi, Mar 27 (PTI) The CBI has registered an FIR in connection with a Rs 65-crore bank loan default by a private company, Jai Ambe Gauri Chemicals, officials said today.

The agency has recently carried out searches in connection with the case, the CBI officials said.

The loan from State Bank of India was declared a non-performing asset and fraud in 2014, they said.

It is alleged that stocks of material with the company were diverted without the knowledge of the bank, claims over collateral properties were disputed, they said.

They said the loan default had allegedly caused a loss of Rs 65 crore to the bank. PTI ABS SMN SMN

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