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CBI Arrests Vindhyavasini Steel Chairman in Fraud Case-The 21st China (Guangzhou) Int’l Spring Industry Exhibition
10/2/2019 - Spring Industry Exhibition-Spring expo |
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The CBI has arrested Chairman and Managing Director of Vindhyavasini Steel Corporation Pvt Ltd Vijay Rajendra Prasad Gupta from Haridwar in connection with a INR 106 crore bank fraud case. The case was registered by the Central Bureau of Investigation on April 17 last year on a complaint from the State Bank of India. It is alleged from 2011 to 2013, VSCPL, represented by Mr Gupta and other directors, entered into a criminal conspiracy with an intent to cheat the SBI in availing loans.
The CBI has alleged that VSCPL sanctioned term loans and CC limit of INR 36 crore for purchasing land and building plant, besides another limit of INR 63 crore as working capital from the SBI. The company allegedly diverted the sale proceeds without repaying the loan.
It is also alleged that the loan sanctioned was diverted to third party instead of paying the supplying thereby causing a wrongful loss to the tune of INR 106.22 crore to the SBI and corresponding gain to themselves.
弹簧展-2020第二十一届广州国际弹簧工业展览会-全球最大弹簧展会-巨浪展览
-The 21st China (Guangzhou) Int’l Spring Industry Exhibition
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