CBI arrests company owner for over Rs 45 crore bank fraud in Lucknow
An investment company owner was arrested by the CBI in Lucknow for allegedly defrauding a nationalised bank to the tune of over Rs 45 crore.
Lucknow: An investment company owner was arrested by the CBI here for allegedly defrauding a nationalised bank to the tune of over Rs 45 crore.
The man has been identified as Hinish Ramchandani, partner of SRS Investment Company, Kanpur. CBI has registered a case on the basis of a complaint received from State Bank of India, Local Head Office, against the officials of State Bank of India, Main Branch, Kanpur and the partners of the company.
"It is alleged that the arrested accused in a criminal conspiracy with the officials of the bank defrauded the bank to the tune of approximately Rs 46 crore by depositing cheques
of his own firms in clearing, without sufficient balance in the accounts," a CBI spokesman said in a release.
"Further investigation is continuing," he added.