The Central Bureau of Investigation (CBI) on Monday registered a case against a Mumbai-based private company over the allegations of causing a loss worth about Rs 1,438.45 crore to the State Bank of India and four other consortium member banks.
The accused named in the FIR were identified as Suman Vijay Gupta, Director (Guarantor), Prateek Vijay Gupta, Director (Guarantor), the company M/s Ushdev International Ltd, Mumbai, and unknown public servants and unknown others.
The case was registered amid allegations against the private borrower company (engaged in trading of ferrous and non-ferrous metal) and its directors along with unknown entities that they had caused a huge loss to the State Bank of India and the consortium member banks (Central Bank of India, Indian Overseas Bank, Oriental Bank of Commerce (now PNB and Bank of Maharashtra).
The loss was allegedly caused by siphoning off funds, showing sales to overseas dormant entities, and manipulating books of accounts.