Loan defaulters flee country, SBI complains after 4 yrs

TIL Desk/Business/New Delhi/ Three promoters of Ram Dev International, recently booked by the Central Bureau of Investigation for allegedly cheating a consortium of six banks to the tune of Rs 411 crore, have already fled the country before the State Bank of India reached the agency with the complaint, officials said on Saturday.             

The CBI had recently booked the company engaged in export of Basmati rice to the West Asian and European countries and its directors Naresh Kumar, Suresh Kumar and Sangita on the basis of complaint from the State Bank of India, which suffered the loss of more than Rs 173 crore, they said.  

The company had three rice milling plants, besides eight sorting and grading units in Karnal district with offices in Saudi Arabia and Dubai for trading purposes, the SBI complaint said.  Besides SBI, other members of consortium are Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank, they said.  The Central Bureau of Investigation did not carry out any searches in the matter because of the coronavirus-induced lockdown, the officials said.