NEW DELHI: The CBI has filed a charge sheet against a Delhi- based toy-manufacturing company for defrauding a consortium of 12 banks led by Punjab National Bank to the tune of Rs 2,040.63 crore.
The agency said the case was filed in 2020 against Hanung Toys and Textiles Ltd and others, including its Promoters and Directors: Ashok Kumar Bansal and Anju Bansal; associate persons, Rishu Agarwal, Manoj Kumar Garg and Kali Kant Jha; Statutory Auditor Piyush Jain and Company Secretary A K Gupta.
Hanung Toys and Textiles was engaged in manufacturing and exports of stuffed toys, home furnishing items, dyeing and bleaching, and processing of fabrics. Investigations revealed the accused allegedly manipulated the books of accounts by suppressing the actual derivative loss and made false financial statements across the years (2008-2013) in order to present the inflated financial worth of the company for the purpose of obtaining credit facilities from the banks.
The quantum of suppressed derivative loss were allegedly malafide and incorrectly reflected as non-existent debtors as well as stock in its books of accounts, thereby resulting into excess borrowing of Rs 478.35 crore. It was also alleged that the said borrower company had inflated its turnover by entering into non-genuine transactions with certain parties.