• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Nation

CBI Books Mumbai Based Firm In Fraud Loan Case

OMMCOM NEWS by OMMCOM NEWS
August 29, 2023
in Nation

New Delhi: Central Bureau of Investigation (CBI) has lodged an FIR of loan fraud of Rs 167 crore against a Mumbai based firm Varron Auto Kast Ltd and its directors.

A senior CBI official said that a written complaint in this respect was received from State Bank of India (Mumbai) against Varron Auto Kast Ltd. (Promoted by Shrikant Pandurang Sawaikar, since deceased), Pramod Madhukar Papani (director) (since deceased), and Sanjiv Vishvambhar Pophale (director).

It was alleged in the complaint that Varron Auto Kast Ltd. was a new venture of Varron Group. It was sanctioned term loan of Rs 167 Crores by the SBI and Rs 155 Crores each by Bank of India and Indian Overseas Bank (Consortium Members) out of total project cost of Rs 721.54 Crores, for the purpose of setting up an auto component manufacturing complex at Nagpur.

“The company diverted funds to individuals for civil and construction work not backed by invoices thereby causing wrongful loss to the State Bank of India to the tune of Rs. 167 Crores to the SBI and corresponding wrongful gain to the company and its Directors,” reads the FIR.

The official said that after receiving the complaint they filed an FIR under sections 120-B read with sections 420, 467, 468, 471 IPC and section 13(2) read with sections 13(1)(d) of Prevention of Corruption Act.

Further investigation in the case is underway.

(IANS)

ShareTweetSendSharePinShareSend
Previous Post

Delhi Police Bans Sub-Conventional Aerial Platforms Upto Sep 12

Next Post

New Survey Shows World Views India Positively

Related Posts

Nation

Tripura Jailbreak: One Inmate Nabbed, Search For Five Continues

October 1, 2025
Nation

Confident That Will Continue To Offer Floral Tributes At Dussehra In Coming Years As Well: Siddaramaiah

October 1, 2025
Nation

Methamphetamine Tablets Valued At Rs 20.61 Crore Seized In Mizoram

October 1, 2025
Nation

Minorities Are With NDA And Nitish Kumar: Bihar Minister Vijay Kumar Choudhary

October 1, 2025
Nation

Never Said That US Stopped Us From Retaliating After The 26/11 Attack, Says Chidambaram

October 1, 2025
Nation

MSP Hike On Rabi Crops Shows Govt Commitment: Farmers

October 1, 2025
Next Post

New Survey Shows World Views India Positively

Jr Women’s Hockey League: SAI Shakti, Har Academy, SAI Bal Among Winners On Day 4

Why Did Central Govt Filed Affidavit Against Bihar’s Caste Based Survey, Says Tejashwi

Khimji
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.