The Central Bureau of Investigation (CBI) has registered a case against Shree Basant Oils Ltd. and others for allegedly cheating the Canara Bank of more than ₹124 crore.
Among the accused are Pramod Agarwal, Gagan Agarwal, Ayush Agarwal, Trishala Devi, Sudha Agarwal and Sthapana Buildcon Private Ltd.
The Mathura-based company is into the manufacturing, packaging and trade of refined oil, rice bran, soya oil, palm oil, mustard oil and oil cake. The company took loans from the bank for business purposes. However, the loan account turned non-performing asset in November 2019 due to non-payment of dues.
It is alleged that during the forensic audit, it turned out that the company’s books of accounts and documents for 2017-18 were not made available. Its former management claimed that the papers were not there and that the soft accounting data had also been lost in a cyberattack.
“The findings depicts that the entries in the ledger accounts in books are either redrafted/fabricated or adjusted on various dates during the period through cash entries. Opening balance figures are either brought forward as ‘nil’ or as incorrect figures. The manner in which these adjustments are done raises questions on the reliability and correctness of the amount,” the first information report said.
As alleged, the unit-wise debtors and creditors balances of the company were either inflated or deflated while submitting self-certified figures in stock statements along with debtors/creditors list to the bank for the relevant period. Forged financial data had been submitted to get the loan and for its renewal and enhancement.
