This story is from September 11, 2018

CBI books Gujarat co for cheating Bank of India

Earlier, CBI had chargesheeted the company owner Roop Chand Baid for allegedly cheating several banks to the tune of Rs 2,000 crore.The ED is also probing SVLL since 2016.
CBI books Gujarat co for cheating Bank of India
Picture used for representational purpose
NEW DELHI: The CBI has filed a case against a Surat-based logistics company, Siddhi Vinayak Logistics Ltd (SVLL), and its directors for cheating Bank of India of Rs 43 crore between 2013 and 2015 by availing loans in the name of purchasing commercial vehicles (chassis and trailers).
Earlier, CBI had chargesheeted the company owner Roop Chand Baid for allegedly cheating several banks to the tune of Rs 2,000 crore.
The ED is also probing SVLL since 2016. CBI has alleged that SVLL and its directors, Raj Kumar Roopchand Vaid, Laxmi Devi Baid, Deepak Kumar Baid, and Roopchand Baid, were party to a criminal conspiracy to cheat Bank of India. They had approached the bank for a term loan of Rs 125 crore for the purchase of 418 commercial vehicles.
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