CBI book jeweler for ₹12 crore fraud with Union Bank of India
June 07, 2023
Gandhinagar: The Central Bureau of Investigation (CBI) has registered an FIR against a jewellery firm and its promoters in connection with a Rs 12.22 crore fraud case filed by the Union Bank of India.
The FIR, registered by the CBI Gandhinagar unit names Arihant Jewels of Bapunagar and its promoters Anant Shah and Maulika Anant Shah, along with Jigar Hebra and unidentified officials from Union Bank of India and others.
The accused abruptly closed their business without informing the bank and defaulted on payments. They also disposed of assets without the bank’s knowledge. The CBI found insufficient evidence to establish the authenticity of transactions and decided to conduct a forensic audit. The audit revealed that the borrower diverted funds to related parties and engaged in suspicious transactions, indicating an intention to defraud the bank. DeshGujarat
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