The CBI has registered a case against a Delhi-based diamond jewellery exporter for an alleged bank loan fraud to the tune of Rs 389.85 crore towards the Oriental Bank of Commerce. Six months after the public sector bank filed a complaint with the CBI, the agency booked Dwarka Das Seth International Pvt Ltd and Sabhya Seth, Reeta Seth, Krishna Kumar Singh, Ravi Singh—all directors of the firm—and another company named Dwarka Das Seth SEZ Incorporation.
The company has availed credit facilities from Oriental Bank of Commerce between 2007-12, which swelled to Rs 389 crore during the period.The string of frauds came as an embarrassment for the BJP-led Central government, which had come to power on an anti-graft plank and had often listed corruption-free administration as one of its main achievements. PM Narendra Modi has warned of stringent action against those involved in financial irregularities.
Congress President Rahul Gandhi on Satuday hit out at the Modi government alleging that a Delhi-based diamond jeweller involved in the scam “disappeared” like Nirav Modi and Vijay Mallya while the government looked the other way.
He said the promoter of Dwarka Das Seth International, who was booked by the CBI for an alleged fraud of Rs 389.85 crore towards Oriental Bank of Commerce, operated with the same modus operandi of fake LoUs as Nirav Modi Under Modi’s ‘Jan Dhan Loot Yojana’, another scam! 390 Crore, involving a Delhi based jeweller. Same Modus operandi as Nirav Modi. Fake LOU's. Predictably, like Mallya and Nirav, this promoter too has disappeared while the Government looked the other way,” he tweeted.
Rahul has been using the hashtag #ModiRobsIndia to target the PM.