The Central Bureau of Investigation (CBI) filed an FIR against Madhya Pradesh Chief Minister Kamal Nath's nephew Ratul Puri. The complainant in this case is Central Bank of India which has accused Ratul Puri, former Executive Director of Moser Baer India Limited (MBIL) of a Rs 354 crore scam. The FIR has been filed by the Banking Securities and Fraud Cheating Unit of the CBI and mentions Sanjay Jain and Vineet Sharma as accused other than Ratul Puri.
Ratul Puri has already been accused by Enforcement Directorate (ED) of receiving kickbacks in AugustaWestland scam. There is already a non-bailable warrant against him.
All accused have been booked for criminal conspiracy, cheating, forgery and corruption. CBI on Sunday, conducted search at six locations including residence and offices of the company and its directors who are accused of fraud.
Moser Baer, the company that manufactured optical storage media like CDs, DVDs, pen drives etc. The company took loans from various banks 2009 onwards and went for debt restructuring a number of times. When the company could not pay money, Central Bank of India carried out a forensic audit following which it accused MBIL of committing a fraud. The allegations came in April 2019.
"MBIL has committed fraud and cheated the complainant bank thereby making a wrongful gain to themselves and a wrongful loss to the lender bank which is a custodian of public money," Central Bank said.
"The funds granted by the banks have been misused and misappropriated by MBIL and its directors for personal use. MBIL and its directors and promoters have also committed fraud in respect of reporting book debts, which were also one of the primary securities of the bank," said the complaint filed with the CBI.
The bank claimed that the company and its directors forged and fabricated documents to induce Central Bank of India to release funds.