An alleged loss of around Rs 56.81 crore, Rs 49.99 crore, and Rs 30.13 crore was caused to the SBI on account of the frauds committed by the three companies.
The Central Bureau of Investigation (CBI) has registered three cases of cheating and criminal conspiracy against three companies based in Mumbai, including its officials, some Bank officials of State Bank of India and a few unidentified officials and private persons.
An alleged loss of around Rs 56.81 crore, Rs 49.99 crore, and Rs 30.13 crore was caused to the SBI on account of the frauds committed by the three companies. Those accused in the first case are M/s Top Worth Pipes and Tubes Pvt Ltd (TPTPL), its directors Abhay Narendra Lodha, Shishir Shivaji Hiray and Harshraj Shantilal Bagmar.
Accused in the second case have been identified as M/s Maheep Marketing Pvt Ltd (MMPL), its directors Gajendra Sandim and Hemant Sanghvi.
Senior SBI officials Thyagaraju Inamanamelluri, Vilas Narhar Ahirrao and Madhura Mangesh Sawant are accused in both cases, as informed by the CBI.
The third cheating case accused are M/s Harsh Steel Trade Pvt Ltd (HSTPL), its directors Chetan Jitendra Mehta and Mahadev Ramchandra Shringare and SBI officials Jagdish Kulkarni and Sadanand Girkar.
According to officials, it was alleged that the companies enjoyed bill discounting facilities against the Letters of Credit issued by SBI, DN Road branch and PM Road Branch, Fort. "However, these bills were returned unpaid by the concerned banks, since it was observed that there were instances of diversion of funds and misrepresentations by the companies. The internal inquiry by the bank also revealed irregularities such as raising multiple invoices, false lorry receipts showing incorrect vehicle registration numbers and vehicles other then heavy goods transport vehicles being shown as means of transportation," said a CBI official.
He added that searches were conducted at 17 places in Mumbai, Raigad, Malegaon, Amravati including office and residential premises of accused which led to recovery of incriminating documents.
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