CBI books Delhi jeweller in Rs 389 crore loan fraud-
The Central Bureau of Investigation (CBI) has enrolled yet another instance of credit extortion, this time against a New Delhi-based adornments outlet Dwarka Das Seth International.
Oriental Bank of Commerce (OBC) has claimed a credit misrepresentation of Rs 389.95 crore against the proprietor of Dwarka Das Seth International.
As indicated by the Oriental Bank authorities, gem specialist and proprietor of the outlet Sabhya Seth, alongside different chiefs of the organization, have been untraceable for as far back as 10 months.
Supposedly, the firm profited different credit offices from the OBC’s GK-II branch since 2007 by getting Foreign Letters of Credit (FLCs), outside narrative bill buy and different instruments.
Reports propose that a half year after the general population division bank documented a dissension with the CBI, the office booked the organization, and Sabhya Seth, Reeta Seth, Krishna Kumar Singh, Ravi Singh – all chiefs of the firm – and another organization named Dwarka Das Seth SEZ Incorporation for the situation.