Ludhiana: CBI books SEL Textiles Ltd, directors for cheating consortium of banks to the tune of Rs 1,530 crore

NEW DELHI: The CBI has booked Ludhiana-based SEL Textiles Ltd and its directors for allegedly cheating consortium of banks to the tune of Rs 1,530 crore, officials said on Monday.
The directors of the conglomerate--Ram Sharan Saluja, Neeraj Saluja and Dhiraj Saluja--have also been named as accused in the CBI FIR along with unidentified others, they said.
The probe agency acted on a complaint from the Central Bank of India, which alleged that the company and its directors indulged in criminal conspiracy to defraud the banks and divert loan funds with an intention to misappropriate them between 2009-13, causing a loss of Rs 1,530 crore to 10 public sector banks of the consortium, they added.