The Central Bureau of Investigation (CBI) has filed an FIR against Delhi-based company Horizon Solution for allegedly cheating Union Bank of India of over Rs 46 crore in a loan fraud, officials said on Friday.
The CBI has booked the East of Kailash-based company, its proprietor Zeba Urfi and guarantor Zaib Un Nisa on charges of criminal conspiracy, cheating, forgery and under the Prevention of Corruption Act, they said.
The company, which is engaged in the sale and installation of IT hardware systems, had submitted plots worth crores of rupees in Dasna, Ghaziabad as collateral while availing credit facilities, the agency said.
When the account turned into a non-performing asset (NPA) in 2013, the bank decided to recover its losses by selling the properties but it came to know that they had already been sold without taking mandatory permission from the bank, the CBI alleged.
"The aforesaid persons have committed serious criminal offences by fraudulently selling the mortgaged property without the bank's knowledge or consent and with a dishonest intention to cause wrongful gain to themselves and to cause wrongful loss to the bank, to cheat the bank and misappropriate the funds," Union Bank of India said in its complaint.
The bank alleged that borrowers, guarantors and their accomplices conspired together from the very inception to obtain the credit facilities and swindle the same.
The account was declared "fraud" by the bank in 2020, it said.
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