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Ludhiana: CBI arrests SEL Textiles director Neeraj Saluja in Rs 1,530 crore bank fraud | Ludhiana News
LUDHIANA: The Central Bureau of Investigation (CBI) has arrested Neeraj Salujadirector of SEL Textile in Ludhiana during an ongoing investigation into a bank fraud of more than Rs 1,530 crore.
The CBI arrested Saluja on Saturday at its Delhi office, where he was subpoenaed by the agency in a two-year-old case.
Saluja will now be produced by the CBI in front of a court in Mohali on Saturday.
“CBI registered an immediate lawsuit on August 6, 2020 against a private company (SEL Textiles Limited) based in Ludhiana and others including directors, unidentified public servants and individuals. It is alleged that the defendant including the private company and its directors defrauded the consortium of 10 banks, led by the Central Bank of India, causing a fraud case of Rs 1530.99 crore (approximately) It is also alleged that large amounts of bank loans were diverted by the defendants to its Related Parties and subsequent adjustment entries. It was also alleged that the defendant was shown to have purchased machinery from unscrupulous suppliers and thus over-billed. Sales proceeds are not deposited in the bank.”
The statement also said, “The aforementioned private company has units in Malout, Nawanshahr (Punjab), Nemrana (Rajasthan) and Hansi (Haryana) engaged in the yarn and fabric manufacturing business. was conducted earlier on August 14, 2020 at the defendant’s premises resulting in the withdrawal of some incriminating documents. The aforementioned Director was found to be evasive in his responses during the investigation. The arrested accused will be produced tomorrow before the competent Court in Mohali.”
The CBI arrested Saluja on Saturday at its Delhi office, where he was subpoenaed by the agency in a two-year-old case.
Saluja will now be produced by the CBI in front of a court in Mohali on Saturday.
“CBI registered an immediate lawsuit on August 6, 2020 against a private company (SEL Textiles Limited) based in Ludhiana and others including directors, unidentified public servants and individuals. It is alleged that the defendant including the private company and its directors defrauded the consortium of 10 banks, led by the Central Bank of India, causing a fraud case of Rs 1530.99 crore (approximately) It is also alleged that large amounts of bank loans were diverted by the defendants to its Related Parties and subsequent adjustment entries. It was also alleged that the defendant was shown to have purchased machinery from unscrupulous suppliers and thus over-billed. Sales proceeds are not deposited in the bank.”
The statement also said, “The aforementioned private company has units in Malout, Nawanshahr (Punjab), Nemrana (Rajasthan) and Hansi (Haryana) engaged in the yarn and fabric manufacturing business. was conducted earlier on August 14, 2020 at the defendant’s premises resulting in the withdrawal of some incriminating documents. The aforementioned Director was found to be evasive in his responses during the investigation. The arrested accused will be produced tomorrow before the competent Court in Mohali.”
