The CBI has booked Mumbai-based Topworth Steels and Power Ltd and its directors for allegedly cheating IDBI Bank of approximately Rs 63.10 crore from 2014 to 2016, officials said on Monday.
The agency carried out searches at nine places, including at Mumbai, Nagpur and Chhattisgarh, at the premises of the accused which led to recovery of incriminating documents, CBI spokesperson R C Joshi said.
Besides the company, the CBI has also booked its directors Surendra Champalal Lodha, Abhay Narendra Lodha, Ashwin Narendra Lodha and Niting Golecha in the case, officials said.
“It was alleged that the accused entered in a conspiracy with an intention to cheat IDBI Bank and committed fraud in various credit facilities availed under a consortium of banks viz, Letter of Credit/Trade Credit Bank Guarantee (LC/TCBG), bank guarantee and cash credit limits. The account of the borrower company was classified as non-performing assets (NPA) due to persistent irregularity, thereby, causing an alleged loss of Rs 63.10 crore (approximately) to IDBI Bank,” Joshi said.