The Central Bureau of Investigation has registered a case against a private company having its Corporate Office at Delhi & Registered Office at Kolkata, and its Directors on a complaint of UCO Bank as Leader of consortium, authorized by 14 other public sector banks (All members of consortium) on the allegations of conspiracy, cheating and forgery. These banks have been allegedly defrauded by the said company to the extent of Rs. 3814.39 crores(approx), 2013 onwards.
The Central Bureau of Investigation has registered a case against REI Agro Ltd., said to be the largest basmati rice processing and marketing company in the world, and its directors for allegedly causing a loss of Rs. 3,814.39 crore to a consortium of 15 nationalised banks led by UCO Bank.The CBI on Tuesday searched 11 premises associated with a company that produces Raindrops Basmati Rice, after a case of Rs 3,800-crore bank fraud was filed against it. The company, REI Agro, was a co-sponsor of Delhi Daredevils in IPL 2013. It also runs a chain of supermarket outlets by the name of 6Ten in India and Hong Kong.
The case of alleged conspiracy, cheating and forgery has been registered against the company and its directors, Sanjay and Sandeep Jhunjhunwala, N.K. Gupta and K.D. Ghosh. It is alleged that the firm operated through a web of shell companies for conducting fraudulent transactions in rice trade. Suspected diversion of funds raised through bank loans is being probed.
