CBI books food exporter for Rs 819 crore banking fraud

'An alleged loss of Rs 819.48 crore(approx) as on April 1, 2018, was caused to the banks,' an official said.

Published: 23rd January 2020 07:32 PM  |   Last Updated: 23rd January 2020 07:32 PM   |  A+A-

CBI Headquarters.

CBI Headquarters. (File Photo | PTI)


NEW DELHI: The CBI has booked a Delhi-based food exporter in an alleged fraud of Rs 819 crore and carried out searches on a complaint from SBI on behalf of a consortium of banks, officials said on Thursday.

The agency has alleged that Radikal Foods Limited, which has its office at Saket, and its directors Siddharth Chaudhary and Anju Chaudhary availed credit facilities to the tune of Rs 732 crore and cheated SBI and another consortium of banks by way of forgery and using forged documents, they said.

The CBI has carried out searches at their premises, the officials said.

"An alleged loss of Rs 819.48 crore(approx) as on April 1, 2018, was caused to the banks," an official said.

The consortium comprises State Bank of India (SBI), Indian Overseas Bank, Oriental Bank of Commerce, Exim Bank, Bank of India, IDBI Bank, Bank of Maharashtra, CSB Bank, Vijaya Bank (now Bank of Baroda) and UCO Bank, the official said.

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