Two FIRs Over Rs 4.96 Crore SBI Loan Fraud in Ahmedabad

Gandhinagar: The Economic Offences Prevention Branch of Gandhinagar CID Crime has registered two FIRs alleging fraud and criminal breach of trust involving loans totalling Rs 4.96 crore from SBI’s SME CG Road Branch in Ahmedabad, now merged with the SME Laghu Udyog Branch.

According to complaints by SBI Assistant General Manager Purushottamkumar Sharma, the borrowers allegedly defaulted on repayments and sold machinery mortgaged to the bank without its knowledge.

In the first case, police booked Tribhuvandas Shrimali, proprietor of Hyta Crop Care Industries in Bakrol Bujrang, Daskroi, and his associates. Shrimali had availed Rs 65 lakh in cash credit, a Rs 1.25 crore term loan and additional credit under the Covid Emergency Credit Line Guarantee Scheme (GECL) for a pesticide manufacturing unit.

After repayments stopped, a bank inspection found the unit shut. Shrimali allegedly claimed the machinery had been removed following a dispute. The bank later found that it had allegedly been sold without its consent. Dues stood at Rs 2.14 crore, of which Rs 48.33 lakh was recovered through auction.

In the second case, police booked Pank Kantilal Prajapati, proprietor of Hyta Bio Science Industries, and guarantor Lalita Parmar for alleged fraud involving over Rs 2.81 crore.

Prajapati had obtained an Rs 80 lakh cash-credit facility and a Rs 1.95 crore term loan in October 2020 against a mortgaged industrial shed. After repayments stopped in April 2022, the unit was found locked and the mortgaged machinery allegedly missing. The bank recovered Rs 62.88 lakh through SARFAESI proceedings.

Police are also examining the alleged role of bank officials and chartered accountant Arun Bhakkad, through whom both loan applications were submitted. DeshGujarat