CBI books Delhi’s Sonear Industries in Rs 168-cr bank fraud

New Delhi, Jan 4 : The Central Bureau of Investigation (CBI) has registered a case against a Delhi-based firm for defrauding Punjab National Bank (PNB) to the tune of Rs 168.73 crore through diversion of funds and fraudulent transactions, the agency said on Monday.
The Central probe agency registered an FIR on December 31 based on a complaint from the PNB against Sonear Industries and others including its directors or guarantors as well as unidentified public servants and private persons.
It was alleged that the accused had “cheated the PNB by way of diversion of bank funds, fraudulent transactions, criminal misappropriation”.
The CBI on Saturday conducted searches at five locations in Delhi including the office and residential premises of borrower company and other accused linked to the case.
West Delhi’s Punjabi Bagh-based Sonear Industries Ltd is involved in manufacture of products of wood, cork, straw and plaiting materials. Directors of Sonear Industries Ltd are Mohan Kumar Jha, Roop Kishore Tuli and Jitendra Kejriwal. All its director and the firm are named in the CBI FIR as accused.
The agency got active after it received a complaint from PNB’s Connaught Place branch’s Deputy General Manager on November 20 last year.