look news india
The Enforcement Directorate (ED) has returned assets worth Rs 185 crore to a consortium of banks led by State Bank of India (SBI), the investigating agency said in a statement.
A Chandigarh-based pharma company had defrauded a consortium of banks led by SBI. This matter is related to Surya Pharma Limited. Company directors and promoters Rajiv Goyal and Alka Goyal caused a loss of Rs 828.50 crore to the banks.
ED has registered a criminal case against the accused company and its promoters in view of the CBI FIR. The agency said in a statement that the company obtained the loan by presenting fake documents.
The loan amount was misused by the company. For this the company created fake entities and withdrew money in their name. Due to which the SBI led group of banks suffered a loss of Rs 828.50 crore.
ED has said that the accused company had obtained foreign debentures by presenting fake import bills. After committing this fraud, promoters Rajeev Goyal and Alka Goyal were leaving India.
It is noteworthy that on July 10, 2017, Chandigarh Court had declared both of them guilty. ED had seized assets worth Rs 185.13 crore in October 2022.