By Trend News Line 2024-06-02 23:19:00.
**CBI Files Chargesheet Against Directors in Rs 99.61 Crore Bank Fraud Case**
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The Central Bureau of Investigations (CBI) has recently filed a chargesheet against the directors of a company for defrauding a nationalised bank to the tune of Rs 99.61 crore by fabricating documents. The accused individuals, M/s Basics India Ltd and Athar Zia along with his wife Sheeza Zia, who were the directors at the time, have been summoned by the special magistrate for the CBI cases for Haryana in Panchkula to provide a copy of the chargesheet.
**Background of the Case**
The incident dates back to the year 2015-16 when the accused managed to secure a loan for acquiring a closed rice mill that had been auctioned by the bank. Sources reveal that the accused further raised credits based on allegedly fabricated CA certificates of balance sheets. The fraudulent activities came to light when they failed to repay the loan, prompting the CBI to launch a preliminary investigation in 2020.
**Legal Proceedings**
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Following the preliminary probe, a case was registered, and the recovery officials of the bank formally lodged a complaint with the economic offenses wing of the CBI. The agency booked four individuals, including the guarantors, and sought permission to prosecute bank officials suspected of collusion. However, the bank did not grant permission to prosecute its officials, leading to their exclusion from the chargesheet.
**Developments in the Case**
During the course of the investigations, one of the accused, MZ Siddiqui, passed away. Another individual, Papender Singh, who acted as a guarantor, was cleared of any wrongdoing by the CBI. The accused have now moved an application for anticipatory bail before the court of Special CBI Judge Rajeev Goyal, with a hearing scheduled for Monday.
**Conclusion**
The CBI’s actions against the directors of the company involved in the bank fraud case demonstrate the agency’s commitment to combatting financial crimes and holding those responsible accountable for their actions. The chargesheet filed is a significant step towards seeking justice for the defrauded bank and ensuring that such fraudulent activities are deterred in the future. The upcoming court proceedings will shed more light on the extent of the fraud and the roles played by the accused individuals in perpetrating the crime.
The case serves as a reminder of the importance of transparency and integrity in financial transactions, highlighting the need for stringent measures to prevent fraud and protect the interests of financial institutions and the general public. The CBI’s efforts to uncover and prosecute such crimes play a crucial role in upholding the rule of law and maintaining the trust of the people in the country’s financial system..
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