CBI books Amrapali Biotech, its directors in bank fraud case
New Delhi
30-July-2021

Photo:IANS
The Central Bureau of Investigation (CBI) has registered a case against Delhi-based Amrapali Biotech India Pvt Ltd and others including its directors in a bank fraud case and carried out searches at their premises.
It was alleged that Amrapali Biotech and its directors cheated the bank and misappropriated the loan amount of Rs 47.97 crore, sanctioned and disbursed for setting up units for manufacturing of food products like jams, sauces, pickles, cornflakes etc in Bihar's Rajgir and Buxar with an ulterior motive to cheat the bank and embezzle public money for their personal gain.
"An alleged loss to the tune of Rs 35.25 crore, apart from interest on loan amount, was caused to the bank which is due from date of NPA on July 1, 2016," he said.
He said multiple CBI teams conducted searches at the premises of the accused which led to recovery of some incriminating documents.-IANS
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