CBI filed a case against the accused for alleged corruption, cheating and criminal conspiracy.
The Central Bureau of Investigation (CBI) has filed a case against Pune Buildtech Pvt Ltd (formerly 'Dynamix Balwas Resorts Pvt Ltd') and its promoters for allegedly defrauding Punjab National Bank (PNB) of over 30 crores between 2013-16.
The group's promoters, Ishaq Yusuf Balwa is the son of Yusuf Balwa and Javardhan Vinod Goenka is the son of Vinod Goenka. Yusuf Balwa and Vinod Goenka had earlier faced trial in the 2G case. Both of them were later acquitted in the case in 2017. The group company Etisalat DB Telecom Pvt Ltd was also charged in the case.
"Pune Buildtech Pvt. Ltd. (Formerly known as Dynamix Balwas Resorts Pvt. Ltd.) was incorporated on 25/04/1997 with an objective to construct five-star hotels and resorts. Pune Buildtech Pvt Ltd. is a wholly-owned subsidiary (WOS) of the DB Hospitality Pvt. Ltd. which is promoted by the Balwas Group und the Dynamix Group," the PNB has said in its complaint.
"PBPL (Pune Buildtech Pvt Ltd) had planned to construct a five-star hotel in Yerwada, Pune. This project was financed by PNB and Allahabad Bank (Now Indian Bank), with both the banks granting Rs 102 crore each as loans. PNB has disbursed Rs. 30.50 Cr till Jan 2011. Thereafter, the project has been delayed due to delay in obtaining clearance from Pune Municipal Corporation and the promoters of the company being charged in 2G Spectrum case. Further, disbursement was stopped by the bank. There are no construction activities in progress since 2011," the complaint, which has been accessed by NDTV, said.
The account turned non-performing asset in 2012 following non-payment of dues.
"The account has been declared fraud by the complainant bank on the grounds of diversion and siphoning of funds and same has been reported to Reserve Bank of India on 22.03.2021 for fraud amount 30.13 crore", reads the FIR.
Based on the complaint, the probe agency has filed a case against the accused for alleged corruption, cheating and criminal conspiracy to cheat the bank.