CBI files another case against 9 Diamond Power promoters, who took Rs 54 crore from BOI in the name of building a five-star hotel

The CBI registered another case against nine promoters of Diamond Power in the Rs 2,654 crore bank loan scam involving Vadodara-based Diamond Power Limited today. The CBI has filed a case against the promoters of Diamond Power for allegedly defrauding the Bank of India of Rs 54 crore. The bank took a loan to build a 5-star hotel in Vadodara, but it never happened. Among the accused in the case filed by CBI are Mayfair Leisure Limited, Rajesh Nimkar, Madhurilata Suresh Bhatnagar (Director), Mona A. Bhatnagar (Director), Riche A Bhatnagar (Director), Namo Narayan Bhatnagar (Director), Sangram Jayaraj Barot (Director), Northway Spaces Ltd., Unknown Public Servant and Private PersonThe Enforcement Directorate (ED) had filed a complaint in the Ahmedabad Rural Court against 21 people, including Amit Bhatnagar and Sumit Bhatnagar of Vadodara, for raising Rs 2,654 crore in loans from 12 banks across the country. Diamond Power Infra.Ltd. The company’s founder, managing director, and joint managing director conspired with bank officials to obtain Rs 2,654.40 crore by forging documents and records by other persons. The company is involved in the production of cables and other electrical equipment. These banks include Bank of India, Bank of Baroda, ICICI Bank, Allahabad Bank, Axis Bank, Dena Bank, SBI, IOB, IFCI, and other financial institutions. The CBI had registered a case against the MD and joint MD of Diamond Power Infra Ltd. in Vadodara in connection with a Rs 2,654 crore loan scam. Managers of Diamond Power Infra have obtained loans worth Rs 2,654.40 crore from 12 banks in the country since 2008. The CBI had met the company’s managers and bank officials and started an investigation into the allegation of fraud by obtaining false documents and records. A consortium of 12 banks benefited from the fraud by the company’s managers. Diamond Power Infra.Ltd. The company’s founder, managing director, and joint managing director conspired with bank officials to obtain Rs 2,654.40 crore by forging documents and records. The company is involved in the production of cables and other electrical equipment. The company and its directors allegedly obtained term loans and credit facilities even though they were already on the RBI’s defaulter list and ECGC sessions list at the time of initial approval of the credit limits by the consortium. Sources said that the management of Diamond Power Company had filed a bankruptcy petition under the Insolvency and Bankruptcy Code with the National Company Law Tribunal against which the tribunal had issued an order not to sell the assets. Diamond Power Infrastructure Company Savli’s property in Vadodara, including land and machinery, was seized in a total of Rs 853.38 crore. In addition to the corporate office at Gorwa BIDC, the company’s plant at Vaddala in Savli taluka, DPTL’s plant at Ranoli, the promoter Bhatnagar family’s luxury bungalows and flats at Nizampura and New Alkapuri, the company’s Alkapuri, Karodia Road, and Tandalja-Kalali Road A hotel under construction in the road area, lands, and properties of DPIL’s Savli taluka and related companies, Bhuj three windmills were seized. Who is among the accused in the Rs 2654 crore bank loan scam? -Diamond Power Infrastructure Ltd., Amit Suresh Bhatnagar, Sumit Narin Bhatnagar, Messrs. Arcon Engicon Ltd., Chandrasekhar Panchal, Accord Industries Ltd., Messrs. Diamond Power Transformal Ltd., Messrs. Diamond Project Ltd., Messrs. Mayfair Leisures Ltd., Messrs. Northway Spaces Ltd.

Related posts

Leave a Comment