India News | CBI Books Mumbai-based Ess Dee Aluminium Ltd for Cheating SBI to the Tune of Rs 338 Cr
Get latest articles and stories on India at LatestLY. The CBI has booked Mumbai-based Ess Dee Aluminium Limited (EDAL) along with its chairman and directors for allegedly causing a loss of Rs 338.52 crore to the State Bank of India, officials said on Monday.
New Delhi, Sep 14 (PTI) The CBI has booked Mumbai-based Ess Dee Aluminium Limited (EDAL) along with its chairman and directors for allegedly causing a loss of Rs 338.52 crore to the State Bank of India, officials said on Monday.
After filing the FIR, the CBI conducted searches on the premises of the company and the accused chairman and directors in Mumbai, they said.
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The directors of the company, which manufactures aluminium foils, submitted fake documents to avail loans from the bank, the CBI has alleged.
"It was also alleged that the accused were involved in diversion of funds etc. and cheated the State Bank of India. An alleged loss to the tune of Rs 338.52 crore (approx.) was caused to State Bank of India," CBI Spokesperson R K Gaur said here.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)