The Central Bureau of Investigation (CBI) has filed a complaint against Loha Ispaat Limited, its chairman-cum-managing director Rajesh Gaurishankar Poddar, and others for allegedly defrauding a consortium of five banks to the tune of ₹1,017.93 crore.
Directors Rajesh Mohanlal Agarwal, Sanjay Bansal, Anju Poddar, and Manish Omprakash Garg of Loha Investments Pvt. Limited are included as defendants in the First Information Report (FIR).
In order to avoid paying back outstanding debts, the accused people faked the accounts, displayed phony sales and buy transactions, and siphoned off the money.
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