CBI searches Greendiamz Biotech in Gujarat in bank fraud case

Ahmedabad: The Central Bureau of Investigation (CBI) conducted searches at the premises of a private company and its directors in the city on Monday.

This action is part of an investigation into a case involving the alleged loss of Rs 46.79 crore to the Union Bank of India. The searches have led to the discovery of incriminating documents while the investigation remains ongoing, as per the CBI statement.

The CBI filed a First Information Report (FIR) on August 3 against M/s Greendiamz Biotech Pvt Ltd, a private firm based in Ahmedabad, along with three of its directors. This move came after a written complaint from Lokesh Sharan, Assistant General Manager at the Union Bank of India in Ahmedabad, dated March 8, 2022. The complaint alleged that Greendiamz Biotech Pvt Ltd and its directors, namely Champat Rikhabchand Sanghavi, Deepak Champat Sanghavi, and Ashwin R Shah, in coordination with unidentified bank officials, engaged in fraudulent activities that violated the bank’s regulations, resulting in a fraud amounting to Rs 46.79 crore. DeshGujarat