After investigations by the Central Bureau of Investigations and the Enforcement Directorate in the coal and cattle smuggling cases, another central investigating agency
The Central Bureau of Investigation (CBI) said on Monday that it has registered a case against Greendiamz Biotech Pvt. Ltd., a private company based in Ahmedabad, along with its directors and unknown public servants for allegedly causing a loss of Rs 46.79 crore to Union Bank of India.
The directors of the firm — Champat Rikhabchand Sanghavi, Deepak Champat Sanghvai, and Ashwin R.Shah — and unknown others have been booked by the CBI.
A CBI official said that the accused siphoned funds disbursed to them through falsification of information and committed the offence of criminal breach of trust, cheating, misappropriation of public funds in connivance with one another.
Searches were conducted at different locations at the premises of the accused in Ahmedabad, including the borrower company, which led to the recovery of incriminating documents.