CHENNAI: The Anti-Corruption Branch of CBI, Chennai, has registered a case against two Pakistani companies, a New Zealand general equity firm, London’s Credit Suisse Capital and a Bangkok firm for allegedly causing a loss of Rs 6 crore to National Textiles Corporation Ltd (NTCL).
Based on NTCL’s complaint, an FIR was registered on March 19. According to the CBI, Madina Impex and Transtrade Global in Karachi were sent 100 containers of cotton textiles in 2015.
The deal was made through Anametrics Intertrade in Bangkok, while Credit Suisse issued letters of credit on behalf of General Equity in Auckland in favour of Corporation Bank in Coimbatore. NTCL complained that it did not receive the payment for the textiles and even the original documents were not returned to it. Also, it had no clue about the delivery of the textile materials to the firms in Pakistan until the companies asked for a discount due to quality issues.
Based on this, the Coimbatore police had registered a case in 2017 which was transferred to CB-CID after the probe did not make any headway till 2021. The DGP then requested the Tamil Nadu government to transfer it to the CBI.