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CBI registers another bank fraud case against Puris

by the owl speaks

The CBI on Friday searched premises linked to the directors of Moser Baer Solar Limited and others in connection with a new case alleging that they caused a loss of ₹787.25 crore to the Punjab National Bank and other lenders of a consortium.

“The searches have been carried out on the premises of accused company directors, including Deepak Puri and his son Ratul Puri,” said a CBI official.

In August 2019, the CBI booked Moser Baer India Limited (MBIL) and the Puris for alleged bank loan fraud involving ₹354.51 crore. Among those named in that case were Mr. Deepak Puri, his wife Nita Puri and their son, besides two directors Sanjay Jain and Vineet Sharma.

Based on the case, the Enforcement Directorate (ED) initiated a money laundering probe and arrested Mr. Ratul Puri the same month. He is also being probed in the AgustaWestland VVIP chopper deal case. In May last, the agency attached assets worth ₹385.44 crore of accused Rajiv Saxena in the copper deal and MBIL cases.

It was alleged that the funds raised by Mr. Deepak Puri through the loan were diverted and kept by Mr. Saxena till 2018. The assets purportedly linked to Mr. Ratul Puri, which were transferred to Mr. Saxena from an undisclosed foreign entity, were also attached by the ED.

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