In a Bank Fraud case before the Hon’ble Special Court in Mapusa, Goa, the Directorate of Enforcement (ED) filed a Prosecution Complaint on August 17, 2023, against M/s Laxmi Corrugated, its partners Dinesh Kumar Tripathi & Mrs Radha Dinesh Kumar, Vishal Kumar, the then Bank Manager Indian Bank, and 2 others. The Prosecution Complaint has been acknowledged by the Honourable Court.
On the basis of an FIR filed by the Central Bureau of Investigation (CBI), Goa under the Prevention of Corruption Act, 1988 and various IPC sections for engaging in a criminal conspiracy to provide various credit facilities and loans using false or forged documents and misappropriate the money among themselves, Allahabad Bank suffered a financial loss of Rs. 1.45 crore, and there was a corresponding unjustified gain among themselves, the ED started an investigation.
The ED investigation revealed that M/s Laxmi Corrugated, its partners Dinesh Kumar Tripathi & Mrs Radha Dinesh Kumar, and the bank’s then Branch Manager Vishal Kumar defrauded the bank by procuring an MSME loan by providing false net worth certificates, fake quotations for machinery, and other documents because the borrowing company was unable to pay back the MSME term loan of Rs. 90.5 lacks and cash credit of Rs. 45 lacks.
Earlier, the ED had attached assets worth Rs. 1.67 crore, comprising three commercial plots, buildings, machinery, and other immovable properties located in Cuncolim, Goa, as well as moveable assets like cars and bank accounts. Additional research is being done.
