Punjab CM’s son-in-law among 13 booked for bank fraud case against Simbhaoli Sugars Ltd |
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CBI has booked Punjab Chief Minister Amarinder Singh's son-in-law and 12 others in a bank fraud case against a private Sugar Company Simbhaoli Sugars Limited.
The agency registered a case against the company, its Chairman Gurmit Singh Mann and Deputy Managing Director, Gurpal Singh who is the son-in-law of the Punjab Chief Minister and others.
CBI registered the case on a complaint from Oriental Bank of Commerce against Simbhaoli sugar limited for causing loss of 109 crore rupees to the Bank. It was alleged that the bank sanctioned a loan amounting to around 150 crores in 2011 for the sugar company.
The loan was sanctioned for financing sugarcane farmers in 2012, which was dishonestly and fraudulently diverted by company for its own needs.
The agency said, the bank had complained to the CBI on November last year but the agency registered the case on 22nd of this month.
The loan was sanctioned for financing sugarcane farmers in 2012, which was dishonestly and fraudulently diverted by the company for its own needs.
The agency said, the bank had complained to the CBI in November last year but the agency registered the case on 22nd of this month.
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