The CBI has launched a probe into a ₹69-crore bank fraud allegedly orchestrated by an Ahmedabad-based edible oil firm and its directors, with the Bank of Baroda filing the complaint. The case centres on falsified accounts, undisclosed related-party transactions, and the creation of a parallel bank account outside the sanctioned consortium — actions that reportedly led to the company’s account turning non-performing in August 2021. According to the bank’s complaint, the promoters diversified their business without securing working capital, failed to inject funds, and inflated turnover through fake transactions meant to siphon money. The FIR cites criminal conspiracy, cheating, and falsification of records under IPC and Prevention of Corruption Act provisions. No arrests have been made yet. The investigation is ongoing, with the CBI examining links to unknown public servants and other unnamed individuals. The film Scene, meanwhile, continues to attract attention, Netflix is said to be offering ₹88 crore for post-theatrical streaming rights. But that’s a separate story. This one stays firmly in the courtroom, not the red carpet.
Photo via The Free Press JournalCBI Probes ₹69-Crore Fraud After Bank of Baroda Complaint
CBI probes ₹69cr fraud at Ahmedabad firm; BOB claims fund diversion via fake books
Reported from
This article was written by the CutMirchi desk from the reporting above. Facts are attributed to their original publishers.
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