CHENNAI: The CBI has filed a case against Thangam Steels Ltd, registered in Anna Nagar for allegedly cheating the Overseas Bank of SBI to the tune of Rs 88.27 crore.
The case was registered on June 30, but made public only on Monday evening.
The case has been registered under sections for cheating, forgery and criminal conspiracy against PS Krishnamurthy, the managing director of Thangam steels, PK Vadiambal, director and another director of the company PK Srinivasan.
The CBI alleged that that the accused hatched a criminal conspiracy and availed fund-based credit facilities of Rs 109 crore, which was misappropriated by using forged documents thereby cheating SBI.
The account had been classified as a non-performing asset (NPA) on May 30, 2013.
SBI had filed a complaint with CBI on June 25 in this regard.
The case was registered on June 30, but made public only on Monday evening.
The case has been registered under sections for cheating, forgery and criminal conspiracy against PS Krishnamurthy, the managing director of Thangam steels, PK Vadiambal, director and another director of the company PK Srinivasan.
The CBI alleged that that the accused hatched a criminal conspiracy and availed fund-based credit facilities of Rs 109 crore, which was misappropriated by using forged documents thereby cheating SBI.
The account had been classified as a non-performing asset (NPA) on May 30, 2013.
SBI had filed a complaint with CBI on June 25 in this regard.
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