CBI books Mumbai-based Ess Dee Aluminium Ltd for cheating SBI to the tune of Rs 338 crore

After filing the FIR, the CBI conducted searches on the premises of the company and the accused chairman and directors in Mumbai, they said.

Written by PTI

September 14, 2020 20:56 IST

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The CBI has booked Mumbai-based Ess Dee Aluminium Limited (EDAL) along with its chairman and directors for allegedly causing a loss of Rs 338.52 crore to the State Bank of India, officials said on Monday. After filing the FIR, the CBI conducted searches on the premises of the company and the accused chairman and directors in Mumbai, they said.

The directors of the company, which manufactures aluminium foils, submitted fake documents to avail loans from the bank, the CBI has alleged. “It was also alleged that the accused were involved in diversion of funds etc. and cheated the State Bank of India. An alleged loss to the tune of Rs 338.52 crore (approx.) was caused to State Bank of India,” CBI Spokesperson R K Gaur said here.

This article was first uploaded on September fourteen, twenty twenty, at fifty-six minutes past eight in the night.