After registering a Rs 325 crore loan fraud case against Tiruchy-based Patel group following a compliant from Corporation Bank last November, the central agency registered four more cases against various firms owned by the same group.
Central Bureau of Investigation
Chennai:
The move came following complaint from Andhra Bank in connection with a Rs 50 crore loan fraud.
CBI’s Anti-Corruption Branch, Madurai, has named Patel & Company and its two partners – Pushpa Patel and Reena Patel – in its FIR, charging them of criminal conspiracy, cheating and forgery based on the complaint by the Coimbatore zone manager of Andhra Bank. The accused had allegedly defrauded the bank to the tune of Rs 13.16 crore after availing loan.
In the second FIR registered against Madhav Industries and it partners, including Ramesh Patel and his wife Sheetal Patel, the CBI said that the accused had committed a loan fraud and caused Rs 13.8 crore loss to the bank.
CBI’s next case against the Patel group is about Rs 13.16 crore bank fraud by Surya Timber Traders and its partners. The next case involving Rs 8.09 bank fraud was registered against Dhananjay Traders and its partners.
In all these cases, CBI has listed panel advocate S Vijaya and panel valuer as accused.