The Central Bureau of Investigation (CBI) has arrested the chairman-cum-managing director of Tirupati Infraprojects Private Limited for allegedly cheating a consortium of banks to the tune of ₹289.15 crore.
The accused has been identified as Jag Mohan Garg. The agency produced him before a special court that sent him to the CBI custody till July 13.
The case was registered on May 25 last year following the allegation that the company, its directors and their associates cheated the consortium of the Bank of India, the Union Bank of India, the Canara Bank, the Bank of Baroda and the UCO Bank.
