• Hindi
  • Heritage Edge
  • Sports Edge
  • Wildlife Edge
SHARP. BITTER. NEUTRAL.
No Result
View All Result
  • Login
The Edge Media
Thursday, October 23, 2025
  • Home
  • National Edge
  • State Edge
  • Political Edge
  • World Edge
  • Entertainment Edge
  • Business Edge
  • Sports Edge
  • Home
  • National Edge
  • State Edge
  • Political Edge
  • World Edge
  • Entertainment Edge
  • Business Edge
  • Sports Edge
No Result
View All Result
The Edge Media
No Result
View All Result
Home Business Edge

411 Crore Loan defaulters flee the country, SBI file complains to CBI after 4 yrs

The Edge Media by The Edge Media
5 years ago
in Business Edge, Main Story
Reading Time: 2 mins read
0
Share on FacebookShare on TwitterShare on LinkedInShare via TelegramSend To WhatsApp

Three promoters of Ram Dev International, recently booked by the Central Bureau of Investigation for allegedly cheating a consortium of six banks to the tune of Rs 411 crore, have 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 engaged in export of Basmati rice to the West Asian and European countries and its directors Naresh Kumar, Suresh Kumar and Sangita on the basis of a complaint from the State Bank of India, which suffered the loss of more than Rs 173 crore, they said.  The company had three rice milling plants, besides 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 Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank, they said. 

The Central Bureau of Investigation did not carry out any searches in the matter because of the coronavirus-induced lockdown, the officials said. The agency will start the process of summoning the accused, in case they do not join the investigation, appropriate legal action will be initiated, they said. According to the complaint filed by SBI, the account had become a non-performing asset on January 27, 2016.

The banks conducted a joint inspection of properties in August and October, nearly 7-9 months later only to find Haryana Police security guards deployed there, they said. “On inquiry, it has been come to notice that borrowers are absconding and have left the country,” the complaint filed on February 25, 2020, after over a year of account becoming NPA, the officials said.  The complaint alleged that borrowers had removed entire machinery from old plant and fudged the balance sheets in order to unlawfully gain at the cost of banks’ funds, it said. — PTI

Previous Post

Flights from Bahrain, Riyadh bringing back stranded Indians reach Kerala

Next Post

Ivanka Trump’s personal assistant tests positive for coronavirus

Related News

GST Reforms Spark Record Festive Sales, 10X Rise in Digital Payments

GST Reforms Spark Record Festive Sales, 10X Rise in Digital Payments

by The Edge Media
October 19, 2025
0

New Delhi | India’s latest GST reforms, implemented on September 22, have significantly impacted consumer spending, with festive sales soaring...

Pakistan Slams ICC for “Biased” Statement on Afghan Cricketers’ Deaths

Pakistan Slams ICC for “Biased” Statement on Afghan Cricketers’ Deaths

by The Edge Media
October 19, 2025
0

Pakistan's Federal Minister for Information, Ata Tarar, has strongly criticized the International Cricket Council (ICC) for its statement regarding the...

Mitchell Marsh Hopes Kohli and Rohit Don’t Dominate Too Much in Australia ODIs

Mitchell Marsh Hopes Kohli and Rohit Don’t Dominate Too Much in Australia ODIs

by The Edge Media
October 18, 2025
0

Australia | As India gears up for their three-match ODI series against Australia starting October 19, host skipper Mitchell Marsh...

Young Man Dies in Agony at Park in Faridabad, Injury Marks Found on Body

Young Man Dies in Agony at Park in Faridabad, Injury Marks Found on Body

by The Edge Media
October 18, 2025
0

Faridabad | A young man tragically died in pain early Friday morning in a public park located in Sihi village, Faridabad....

Illegal Firecracker Factory Busted in Palwal, Explosives and Huge Stock Seized

Illegal Firecracker Factory Busted in Palwal, Explosives and Huge Stock Seized

by The Edge Media
October 18, 2025
0

Palwal | An illegal firecracker manufacturing unit was uncovered by the police in Manpur village under the jurisdiction of the Mundakati...

Indian Army Medic Saves Choking Infant on Train with Life-Saving CPR

Indian Army Medic Saves Choking Infant on Train with Life-Saving CPR

by The Edge Media
October 18, 2025
0

An Indian Army ambulance assistant, Sepoy Sunil, performed a heroic act aboard the New Delhi-Dibrugarh Rajdhani Express by reviving an...

Discussion about this post

Recommended

19-year-old in shorts made to take exam wrapped in curtain

19-year-old in shorts made to take exam wrapped in curtain

4 years ago
Harappan-era city Dholavira inscribed on UNESCO world heritage list.

Harappan-era city Dholavira inscribed on UNESCO world heritage list.

4 years ago

Popular News

  • GST Reforms Spark Record Festive Sales, 10X Rise in Digital Payments

    GST Reforms Spark Record Festive Sales, 10X Rise in Digital Payments

    0 shares
    Share 0 Tweet 0
  • Pakistan Slams ICC for “Biased” Statement on Afghan Cricketers’ Deaths

    0 shares
    Share 0 Tweet 0
  • Mitchell Marsh Hopes Kohli and Rohit Don’t Dominate Too Much in Australia ODIs

    0 shares
    Share 0 Tweet 0
  • Young Man Dies in Agony at Park in Faridabad, Injury Marks Found on Body

    0 shares
    Share 0 Tweet 0
  • Illegal Firecracker Factory Busted in Palwal, Explosives and Huge Stock Seized

    0 shares
    Share 0 Tweet 0
  • Hindi
  • Heritage Edge
  • Sports Edge
  • Wildlife Edge
SHARP. BITTER. NEUTRAL.

© 2024 The Edge Media All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • National Edge
  • State Edge
  • Political Edge
  • World Edge
  • Entertainment Edge
  • Business Edge
  • Sports Edge

© 2024 The Edge Media All Rights Reserved.