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Bhopal, CBI has registered three FIRs against Madhya Pradesh famous textile industry group Rajshree Industries. A case has been registered against the Mahajan brothers and the director for bank fraud and cheating. Bank of Baroda had got a forensic audit done before complaining to the CBI. It was revealed in this audit that instead of repaying the bank loan, crores of rupees were transferred to other companies. Then declared himself bankrupt in front of the bank.
Transaction through half a dozen banks
Investigation has found that after giving loan from Bank of Baroda, transactions were done through half a dozen private banks for business deals. On the basis of which CBI has made Kailash Chandra Mahajan, Rajendra, Narendra Mahajan, Nilesh Gandhi and Rachit Gandhi accused in the banking fraud case. According to the CBI, the Mahajan brothers were made directors in the company as funders and guarantors along with Nilesh Gandhi and Rachit Gandhi. Apart from Rajshree Industries, Rajshree Kotex and Fibers Company was also incorporated. The loan amount taken from the bank was transferred to four different companies. After this it was declared NPA in the year 2019. After this, the recovery and audit wing of the bank investigated the bank accounts of the Rajshree group. During this, evidence of fraud and violation of bank rules was found. Then the AGM of Bank of Baroda handed over the case to the CBI. The CBI has registered separate FIRs against the three companies.
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