CBI REGISTERS TWO SEPARATE CASES AGAINST MANAGING DIRECTORS & DIRECTORS OF TWO DIAMOND EXPORTING PRIVATE COMPANIES AND OTHERS:- CASH OF RS.1.32 CRORE(APPROX) RECOVERED DURING SEARCHES.

Press Release
New Delhi , 01.06.2012

            The Central Bureau of Investigation has registered two separate cases against the Managing Directors and Directors of two Diamond Exporting Pvt. Ltd. companies based at Mumbai and unknown others for their alleged involvement in fraudulent availment of Demand loan against Export collection bills in connivance with private logistic company of Mumbai to the tune of Rs.63 crores from Indian Overseas Bank, Nariman Point Branch, Mumbai.

 

            Searches were conducted at 5 places in Mumbai at the residential & official premises of Managing Directors and Directors of two Diamond Exporting Jewellery Pvt. Ltd. Companies which resulted in recovery of cash of Rs.1.32 crores(approx); fixed deposits worth Rs. 4.5 crores and incriminating documents.

 

            Further investigation is in progress.

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