CBI arrests head constable for accepting bribe
After negotiations, the accused agreed to accept Rs 20,000, the Central probe agency said.
After Nirav Modi and Mehul Choksi, the CBI has registered a case against a Delhi-based diamond jewellery exporter for an alleged bank loan fraud to the tune of Rs. 389.85 crore towards Oriental Bank of Commerce. The CBI has booked Dwarka Das Seth International Pvt Ltd for the alleged fraud.
Six months after the public sector bank filed a complaint with the CBI, the agency booked the company, and Sabhya Seth, Reeta Seth, Krishna Kumar Singh, Ravi Singh — all directors of the firm — and another company named Dwarka Das Seth SEZ Incorporation. The FIR was filed on Friday.
The company has availed various credit facilities from OBC between 2007-12, which swelled to Rs. 389 crore during the period.
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It was found by the bank that the company was using Letters of Credit (LoCs) to pay off other creditors against the purchase of gold and other precious stone, and transferring gold and funds outside the country using fictitious transactions, the bank complaint, now part of the CBI FIR, alleged.
The company was also engaging in business transactions with non-existent entities, it said.
After its own inquiry, the bank reportedly claimed that Sabhya Seth and other directors had not been at their residences since last 10 months. If the media reports are anything to go by, Sabhya Seth may have already fled India.
The CBI was approached on August 16, 2017 by the bank.
(With PTI inputs)
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