Case Registered against Abhay Lodha Topworth Mumbai based Company for Defrauding SBI of Rs 56.81 Crore

abhay lodha topworth, sbi fraud, sbi scam

The CBI on Tuesday said it had registered cases against three Mumbai companies, SBI officials and unidentified persons on the charge of defrauding the bank to the extent of Rs 136.93 crore.

CBI filed three cases against the Topworth group of companies and its director Abhay Narendra Lodha, Mahee Marketing Pvt Ltd and its directors Gajendra Sandim and Hemant Sanghvi and Harsh Steel Trade Pvt Ltd and its director Chetan Jitendra Mehta.

It also named former officials of SBI, including then AGM (additional general manager) Thyagaraju Inamanamelluri and then deputy managers Vilas Narhar and Sadanand Girkar in its first information report (FIR).

The SBI lost Rs 56.81 crore, Rs 49.99 crore and Rs 30.13 crore in these dealings.

The CBI said, “It was alleged that the said private companies enjoyed bill discounting facilities against the Letters of Credit issued by State Bank of India, D.N. Road branch and P.M. Road branch, Fort, Mumbai. However, these bills were returned unpaid by the concerned banks, since it was observed that there were instances of diversion of funds and misrepresentations by the companies.”

“The internal enquiry by the bank also revealed irregularities such as raising multiple invoices, false lorry receipts showing incorrect vehicle registration numbers and vehicles other than heavy goods transport vehicles being shown as means of transportation”, said CBI.

The official said the agency searched 17 places in Mumbai, Raigad, Malegaon and Amravati and seized incriminating documents.

Leave a Reply

Your email address will not be published. Required fields are marked *