CBI registers cheating case against five directors of a private company
The Hindu
Salem The Central Bureau of Investigation (Economic Offences Wing), Chennai, on Monday registered a case against the managing director and four directors of a private company and unknown public servan
Salem The Central Bureau of Investigation (Economic Offences Wing), Chennai, on Monday registered a case against the managing director and four directors of a private company and unknown public servants for obtaining loan from Indian Overseas Bank, Fairlands Branch, through fraudulent means.
In her complaint, N. Vijaya, Chief Regional Manager, IOB, Regional Office, Coimbatore, said that S. Durairaj, managing director, Subashri Bio Energies Private Limited, along with directors D. Malliga, Salaisivaprakasam, Nalla Govindasamy and G. Saraswathy, had conspired with unknown public servants and fraudulently availed term loans and cash credit limits for establishing poultry litter based power generation project sponsored by the Ministry of Non-Conventional Energy Sources.
They also misappropriated the loan funds and diverted the funds causing loss to the tune of ₹ 62.20 crore to the bank.