Home News Reports CBI registers case against Punjab CM's son-in-law and 12 others in bank fraud case

CBI registers case against Punjab CM’s son-in-law and 12 others in bank fraud case

The Central Bureau of Investigation (CBI) has registered a case against Gurpal Singh, Deputy General Manager in Simbhaoli Sugars Limited and other top officials for the alleged bank fraud case. Singh is son in law of Punjab Chief Minister Captain Amarinder.

According to the FIR filed by the CBI, two loans, one of Rs. 97.85 crore which was declared fraud in 2015 and another loan of Rs. 109 crore which the company has defaulted on payment, from Oriental Bank of Commerce is under probe. The second loan was reportedly taken to repay the previous loan.

A loan amounting to Rs 148.60 crore was sanctioned to the company in 2011 for financing individual, Joint Liability Groups, and Self-Help Groups under the tie-up arrangement under the RBI Scheme to 5,762 sugarcane farmers supplying sugar produce to said private company during the period from 25 January to 13 March 2012. It has been alleged that these funds were diverted for personal use. On non-repayment of the loan, the loan was converted into a non-performing asset (NPA) on 31st March 2015 and later declared as an alleged fraud. The second loan of Rs. 110 crore was sanctioned by the bank to Simbhaoli Sugars on 28th January 2015 to pay the previous outstanding loan of Rs. 97.85 crore, which was declared NPA on 29th November 2016, few days after demonetisation of Rs. 500 and Rs. 1,000 currency notes.

- Ad - - article resumes -

Simbhaoli Sugars Limited is among the largest sugar mills in the country. The FIR filed by the CBI has named company’s Chairman and Managing Director Gurmit Singh Mann, Deputy Managing Director Gurpal Singh, Chief Executive Officer, GSC Rao, Chief Financial Officer Sanjay Tapriya, and Executive Director Gursimran Kaur Mann. Five other non-executive directors have also been named. These officials have been charged with criminal conspiracy, cheating and forgery under Prevention of Corruption Act for causing loss to the bank.

Help Opindia Reach Every Indian. Share This Post
We need your support to survive in the media industry. Please consider paying us for the content we produce:

To know more about these payments, please click here.


Big Story

Sanjay Leela Bhansali set to produce an hour-long movie based on the life of PM Modi and is titled Mann Bairagi.

2019 World Cup Is Here!

Catch the latest on Cricket World Cup as it unfolds, special coverage by Opindia

To Advertise on Opindia.com Click here

‘Professional Congress’ member posts promotional tweets for 500 rupees, blames ‘social media manager’ after having defended tweet

Flipkart Big Billion Sale is here and well, 'Congress supporters' would like to earn a few quick bucks.

‘Kashmir free from shackles of Pakistan sponsored terrorism’: Pakistani org representing Pashtuns refuses to support Imran Khan’s Kashmir protest, backs India

Pashtun Tahaffuz Movement (PTM), the principal body representing Pashtuns in Pakistan, has rejected Prime Minister Imran Khan’s recent call to all people in which he urged them to come out and support Pakistan’s narrative on Kashmir. 

Prashant Kishor’s team starts reaching out to media and influencers with ‘paid content’ offers ahead of West Bengal assembly elections

Darjeeling Chronicle has exposed how Prashant Kishor led IPAC is reaching out to 'influencers' and digital portals to carry out paid campaigning for TMC and Mamata Banerjee ahead of 2021 West Bengal state elections

Suvarna news anchor wants scientist arrested for his sarcastic Tweet about ‘Mysore Pak’, claims his act was ‘seditious’

The anchor of Suvarna news, Jayaprakash Shetty has now asked for the arrest of scientist Ranganathan for claiming Mysore Pak belonged to Tamil Nadu in a sarcastic Tweet

Congress’ AIPC member blames Indian Prime Minister Narendra Modi for an incident of violence in Pakistan

All India Professionals' Congress member Andria D'Souza wants to hold PM Modi accountable for an incident in Pakistan

While talking about Muslims in Jammu, Karan Thapar diminishes massacre of Hindus and Sikhs in Jammu and the KP exodus

Karan Thapar in his article "We cannot be selective about the past in Jammu & Kashmir" in Hindustan Times dated 15th Sept 2019, gives a call to morality, intellectual honesty and being conscious to multiple peoples and their identities.
Stopped for traffic rules violation, Delhi girl threatens suicide

Watch: Stopped by traffic cops, Delhi girl threatens with suicide, helmet attack and then her mother

The girl was reportedly stopped for the broken license plate on her two-wheeler. When the traffic police demanded to see the scooter's documents, she stated that she had no papers.
Image Source: twitter

Malala Yousafzai spreads fake news, claims girl from Kashmir missed her exams on August 12 which was an Eid holiday

According to Malala, one of the three girls from Kashmir missed her exams on August 12. However, August 12 is a notified holiday declared across the country by Government of India on the occasion of Bakr Id or Eid ul-Adha.

Kannada media spreads fake news, accuses Nirmala Sitaraman of ‘giving’ Mysorepak to Tamil Nadu

No one had expected that a huge controversy would erupt over the issue of Mysore Pak, which originated in Mysuru during the rule of Wodeyar dynasty.
Subscribe to Day's Top Stories
[newsletter_form type="minimal"]
- Advertisment -

Latest articles

Connect with us

182,792FansLike
180,452FollowersFollow
97,491SubscribersSubscribe
Help Opindia Reach Every Indian. Share This Post