The Central Bureau of Investigation has filed an FIR against a BJP MLA from Madhya Pradesh for defrauding the banks to the tune of over Rs 29 crore, officials said.
Surendra Patwa, a BJP MLA from Madhya Pradesh’s Bhojpur, has been booked for defrauding Bank of Baroda. The CBI also conducted searches at his residence in Indore.
Along with Surendra Patwa, his Indore-based firm Patwa Automotive Private Limited, and its director, Monika Patwa, have been named as accused along with unknown public servants.
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According to the FIR, Patwa Automotive Private Limited allegedly committed fraud during the period of 2014 to 2017 in conspiracy with its directors, Surendra Patwa, Monika Patwa, in conspiracy with unknown public servants and cheated the Bank of Baroda to the tune of Rs. 29.41 crore.
The complaint by bank has alleged that Indore-based Patwa Automative Private Limited had advanced the working capital loan and term loan amounting to Rs 36 crore by Bank of Baroda on September 13, 2014 after taking over credit facilities extended by IDBI Bank.
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“The said loan account became NPA (non-performing asset) on May 2, 2017 and was subsequently reported as fraud to Reserve Bank of India. The outstanding loan amount was Rs 29.41 crore. It was also alleged that the forensic accounting had revealed siphoning of funds and diversion of funds by the said private company,” said CBI spokesperson RC Joshi.
The CBI conducted searches on the premises of the accused in Bhopal and Indore.
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