CBI books Amrapali Biotech, its directors

NEW DELHI: The Central Bureau of Investigation (CBI) has registered a case against Delhi-based Amrapali Biotech India Pvt Ltd and others including its directors in a bank fraud case and carried out searches at their premises.

A CBI spokesperson said that the agency registered a case on a complaint from the Punjab National Bank, and erstwhile Oriental Bank of Commerce against the Amrapali Biotech India and others, including its Directors Sunil Kumar, Sudhir Kumar Chaudhary, Ram Vivek Singh, Seema Kumari, and Sunita Kumari, on the allegations of fraud.

It was alleged that Amrapali Biotech and its directors cheated the bank and misappropriated the loan amount of Rs 47.97 crore, sanctioned and disbursed for setting up units for manufacturing of food products like jams, sauces, pickles, cornflakes etc in Bihar's Rajgir and Buxar with an ulterior motive to cheat the bank and embezzle public money for their personal gain.

"An alleged loss to the tune of Rs 35.25 crore, apart from interest on loan amount, was caused to the bank which is due from date of NPA on July 1, 2016," he said. (IANS)

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