New Delhi: The Central Bureau of Investigation (CBI) on Tuesday carried out searches at three locations in Delhi linked to SVOGL Oil Gas and Energy Ltd, its MD Padam Singhee and others in connection with a Rs 252 crore bank fraud case.
A CBI spokesperson here said that the agency carried out searches at the premises of the company, Singhee and Director Prem Chimanlal Singhee.
The official said that the action came in the wake of a case it registered on a complaint from Punjab National Bank (PNB) against the company and others including its Managing Director, Director, and unknown public servants for causing an alleged loss of Rs 252.61 crore.
The official said that it has been alleged in the complaint that the accused had cheated the PNB by way of fraudulent transactions, misappropriation etc.
He said that the loan account availed by the firm was classified as NPA on June 30, 2016 by the Central Statutory Auditor with effect from December 26, 2013.
The official said that the PNB informed that the fraud was detected on June 18, 2016 and reported to the RBI on August 15, 2019.
The official said that SVOGL Oil Gas & Energy Ltd was incorporated in 1989, as an on shore service provider to oil and gas industry in India.
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