LUCKNOW: Enforcement Directorate (ED) on Friday carried out extensive searches on the property of Samajwadi Party leader Vinay Shankar Tiwari and his associates in Gorakhpur, Lucknow and Noida on charges of fraudulently acquiring Rs 1,129 crore credits from seven banks.
ED’s action follows FIR lodged by Anti-Corruption Bureau of CBI in New Delhi against Gangotri Enterprises Ltd (owned by Tiwari) and its stakeholders in Oct 2020. CBI named the firm’s directors – Tiwari, his wife Reeta and Ajeet Pandey – in the FIR.
Tiwari, son of former minister and Gorakhpur strongman late Hari Shankar Tiwari, represented Chillupar constituency after he was elected on a BSP ticket. He later joined SP but lost the 2022 assembly polls.
Investigation revealed an alleged collusion between Gangotri, its promoters, directors and guarantors in fraudulently obtaining over Rs 1,129 crore credit facilities from seven banks, with Bank of India leading the consortium. The credit facilities were not repaid. Instead, those were diverted and misappropriated causing the consortium of banks losses to the tune of Rs 754 crore. The company also used fake documents to secure loans and later defaulted on payment, sources said. TNN
For more news like this visit TOI. Get all the Latest News, City News, India News, Business News, and Sports News. For Entertainment News, TV News, and Lifestyle Tips visit Etimes
News Related-
Anurag Kashyap unveils teaser of ‘Kastoori’
-
Shehar Lakhot: Meet The Intriguing Characters Of The Upcoming Noir Crime Drama
-
Watch: 'My name is VVS Laxman...': When Ishan Kishan gave wrong answers to right questions
-
Tennis-Sabalenka, Rybakina to open new season in Brisbane
-
Sikandar Raza Makes History For Zimbabwe With Hattrick A Day After Punjab Kings Retain Him- WATCH
-
Delayed Barapullah work yet to begin despite land transfer
-
Army called in to help in tunnel rescue operation
-
FIR against Redbird aviation school for non-cooperation, obstructing DGCA officials in probe
-
IPL 2024 Auction: Why Gujarat Titans allowed Hardik Pandya to join Mumbai Indians? GT explain
-
From puff sleeves to sustainable designs: Top 5 bridal fashion trends redefining elegance and style for brides-to-be
-
The Judge behind China's financial reckoning
-
Arshdeep Singh & Axar Patel Out, Avesh Khan & Washington Sundar IN? India's Likely Playing XI For 3rd T20I
-
Horoscope Today, November 28, 2023: Check here Astrological prediction for all zodiac signs
-
'Gurdwaras are...': US Sikh body on Indian envoy's heckling by Khalistani backers