SBI is complaining to CBI after Rs 411 crore loan defaulters have fled the country

Three promoters of Ram Dev International recently booked by CBI for allegedly cheating a consortium of six banks to the tune of Rs 411 crore, has already fled the country before the State Bank of India reached the agency with the complaint, officials said on Saturday.

The CBI had recently booked the company involved in exporting Basmati rice to the West Asian and European countries and its directors Naresh Kumar, Suresh Kumar and Sangita on the basis of a complaint by the State Bank of India (SBI), which suffered the loss of more than Rs 173 crore, they said.

SBI had three rice mills in addition to eight sorting and grading units in Karnal district with offices in Saudi Arabia and Dubai for trading purposes, the SBI complaint said.

Besides SBI, other members of the consortium are also Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank, they said.

the Central Bureau of Investigation (CBI) did not conduct any searches in the case because of the coronavirus-induced closure, officials said.

The agency will begin the process of summoning the defendants, in case they do not participate in the investigation, appropriate lawsuits will be initiated, they said.

According to the complaint from SBI, the account had become non-executive asset (NPA) on January 27, 2016.

The banks conducted a joint property inspection in August and October, almost 7-9 months later, only to find Haryana Police security guards deployed there, they said.

“Upon inquiry, it has been noted that borrowers are foreclosing and leaving the country,” the complaint, filed Feb. 25, 2020, said after over a year’s account becoming the NPA, officials said.

The complaint claimed that borrowers had removed entire machines from the old facility and crushed the balances to illegally win at the expense of banks’ funds, it says.

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