24 February, New Delhi
The Central Bureau of Investigation (CBI) has registered a case against a Delhi-based jeweller in connection with an alleged bank loan fraud of Rs 389.85 crore towards Oriental Bank of Commerce.
In this connection, the CBI has booked Dwarka Das Seth International Pvt Ltd, sources said on Saturday.
The probe agency has booked four directors of the firm including Sabhya Seth, Reeta Seth, Krishna Kumar Singh, Ravi Singh and another company which is Dwarka Das Seth SEZ Incorporation.
The Bank, in its complaint with the probe agency has alleged that Dwarka Das Seth International Pvt Ltd tookloans by way of letters of credit and other such credit facilities for gold jewellery export/import between 2007and 2012 but failed to pay back and the loans turned NPA in 2014.
It is alleged that the company had used various credit facilities from the bank during 2007-12, whichincreased to Rs 389 crore during the period.
The Bank had lodged complaint with the CBI on August 16 last year.