Diamond Power Infrastructure Ltd or DPIL
2019年10月21日It is alleged that the firm, with active connivance of officials from various banks, managed to get enhanced credit facilities.It is alleged that DPIL, through its management, (had) fraudulently availed credit facilities from a consortium of 11 banks (both public and private) since 2008, leaving behind an outstanding debit of Rs 2,654.40 crore as on June 29, 2016, it said.The central https://www.zjhyd.com/product/zh-sc-series/ instant electric water heater tap Manufacturers probe agency also launched searches at the official and residential premises of the company
Diamond Power Infrastructure Ltd or DPIL, and its directors in Vadodara in Gujarat.At the time of formation of consortium in 2008, Axis Bank was the lead bank for the term loan and Bank of India was the lead bank for cash credit limits.New Delhi: The CBI on Thursday said it had registered a criminal case against a Vadodara-based company dealing in electric cable and equipment, and its directors for allegedly cheating various banks to the tune of Rs 2,654 crore.According to the CBI, the company had been allegedly submitting false stock statements to the lead bank by treating receivables more than 180 days (non-current asset) as less than 180 days (current asset) to get more drawing power in their cash credit accounts.The loan, it said, was declared a non-performing asset in 2016-17.
The CBI alleged that DPIL, which manufactures electric cables and equipment, is promoted by S N Bhatnagar and his sons Amit Bhatnagar and Sumit Bhatnagar, who are also the executives of the firm.The company and its directors managed to get the term loans and credit facilities, in spite of the fact that they were named in the Reserve Bank of Indias defaulters list and ECGC or export credit guarantee corporation caution list at the time of the initial sanction of credit limits by the consortium, the agency alleged
Diamond Power Infrastructure Ltd or DPIL, and its directors in Vadodara in Gujarat.At the time of formation of consortium in 2008, Axis Bank was the lead bank for the term loan and Bank of India was the lead bank for cash credit limits.New Delhi: The CBI on Thursday said it had registered a criminal case against a Vadodara-based company dealing in electric cable and equipment, and its directors for allegedly cheating various banks to the tune of Rs 2,654 crore.According to the CBI, the company had been allegedly submitting false stock statements to the lead bank by treating receivables more than 180 days (non-current asset) as less than 180 days (current asset) to get more drawing power in their cash credit accounts.The loan, it said, was declared a non-performing asset in 2016-17.
The CBI alleged that DPIL, which manufactures electric cables and equipment, is promoted by S N Bhatnagar and his sons Amit Bhatnagar and Sumit Bhatnagar, who are also the executives of the firm.The company and its directors managed to get the term loans and credit facilities, in spite of the fact that they were named in the Reserve Bank of Indias defaulters list and ECGC or export credit guarantee corporation caution list at the time of the initial sanction of credit limits by the consortium, the agency alleged
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