New Delhi Feb 26,2021: The Central Bureau of Investigation has registered a case on a complaint from Canara Bank, Rohtak Main Branch (Haryana) against a private company based at Rohtak & its Directors and other unknown persons & public servants on the allegations of Bank fraud of Rs. 176.28 crore (approx.). It has been alleged that the said private company through its Proprietor/Directors in conspiracy with others had defrauded the consortium of banks by mis-representation/concealment of facts and false documents/information making diversion of funds, disposing off the mortgaged properties without the consent of Banks. An alleged loss of Rs. 176.28 crore (approx.) was caused to the consortium of Banks i.e. Canara Bank and State Bank of India.
The accused private firm was incorporated on 27.12.1968 as Pvt Ltd company and converted to Public Ltd company on 20.08.1971. The company was engaged in the manufacturing of high tensile fasteners.
Searches have been conducted today at five places including Rohtak which led to recovery of incriminating documents.
Name of the accused:-
I. M/s Lakshmi Precision Screws Ltd.
II. Lalit K. Jain, Director
III. Rajesh K Jain, Director
IV. Vijay Kumar Jain, Director
V. Nilikesh Jain, Mortgagor of Property
VI. Saurav Jain, Mortgagor of Property
The investigation is continuing.