Daijiworld Media Network - Karnal (SS)

Chandigarh, May 9: The Central Bureau of Investigation (CBI) booked three promoters of Ram Dev International on allegations of cheating a group of six banks amounting to Rs 411 crore. Officials said that before the State Bank of India (SBI) could reach the agency with a complaint, they had already escaped the country.

The company and its directors Naresh Kumar, Suresh Kumar and Sangita were booked by the CBI after the SBI filed a complaint which is said to have suffered a loss of more than Rs 173 crore. The company was engaged in exporting basmati rice to the west Asian and European countries.

SBI in a complaint stated that the company had trading offices in Dubai and Saudi Arabia while three rice milling plants in Karnal district apart from eight sorting and grading units.

Apart from the SBI, the other consortium banks include Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank.

The officials said that the CBI did not carry out any searches in this regard due to the coronavirus lockdown.

They said that soon the accused would be summoned and legal action would be initiated if they do not join the investigation.

As per the complaints filed by SBI, the account had become a non performing asset (NPA) four years back on January 27, 2016.

They said that the banks had conducted a joint inspection of properties in August and October, about 7-9 months later and found the Haryana police security guards deployed there.

However a complaint was filed only four years after the account became an NPA on February 25. By then they had fled the country. The officials said, "On enquiry, it has come to notice that borrowers are abscounding and have left the country."

According to the complaints filed, it is said that the entire machinery from the old plant was removed and the balance sheets were manipulated in order to illegaly derive gain at the cost of the banks' funds.