In the first six months of 2020, the Central Bureau of Investigation has registered 40 cases of bank frauds and is probing bad loans worth over Rs 14,400 crore.
From probing the poster boy of the Indian banking industry to investigating an educational portal of bank fraud, the agency has remained busy despite a countrywide lockdown.
In all 40 cases, the complainant is the bank and CBI has relied on forensic audit report provided to it. The investigation revolves around forensic audit report.
The biggest and most high profile bank fraud of 2020 so far has been the Yes Bank scam. In March, CBI registered two cases against Rana Kapoor and his family members. Others who have booked in the scam include Wadhawans and Gautam Thappar. Kapoor is accused of giving loans to company with weak finances and taking kickbacks.
Though the Enforcement Directorate has filed a chargesheet of money laundering against Rana Kapoor, the CBI probe is still going on.
In January, the CBI carried out raids and searches across India, after Mumbai baaed Frost International was accused of defrauding a consortium of 14 banks to the tune of Rs 3592 crores. Lookout circular have been issued against its directors Uday Desai and Sujay Desai.
Once hailed as a pioneer of "smart class" and innovator of "digital education", Educomp Solutions Private Limited was accused of siphoning off bank loans worth thousands of crores. In February, CBI accused Educomp and it's managing director Shantanu Prakash of defrauding a consortium of 13 banks of over Rs 1950 crores. "Forged tri-partite agreements with schools were submitted as genuine and loan was taken," said the CBI FIR.
CBI booked the directors of Delhi based food export firm Radikal Foods Limited in a bank fraud case worth Rs 819.48 crores.
In January, an FIR was filed by CBI when a bank fraud case was detected involving an export firm Shree Bankey Bihari Limited. A consortium of seven banks suffered a loss of Rs 604.81 crores.
Source : Timesnownews