CBI books Ludhiana firm for Rs 1,531-cr bank loan fraud

New Delhi, August 17 The Central Bureau of Investigation today said it had booked Ludhiana-based SEL Textiles Ltd and its directors for allegedly defrauding a consortium of 10 banks of Rs 1,530.99 crore. Officials said the directors of the conglomerate...

Tribune Web Desk

Updated At : 12:50 PM Aug 18, 2020 IST

New Delhi, August 17

The Central Bureau of Investigation today said it had booked Ludhiana-based SEL Textiles Ltd and its directors for allegedly defrauding a consortium of 10 banks of Rs 1,530.99 crore.

Officials said the directors of the conglomerate (Ram Sharan Saluja, Neeraj Saluja and Dhiraj Saluja) had been named as accused in the FIR, along with unidentified persons.

The action came on a complaint by the Central Bank of India that alleged the accused indulged in criminal conspiracy to defraud banks and divert loan funds between 2009 and 2013, causing a loss of Rs 1,530.99 crore to the banks. — TNS