CBI arrests builder in Rs 280 crore bank loan fraud case
New Delhi, June 5, 2023 (ANI): The Central Bureau of Investigation (CBI) has arrested Harresh Mehta, a leader building of South Mumbai in connection to a Rs 280 crore bank loan fraud case, said officials.
According to the officials, Harresh Mehta is the owner of Rohan Life Spaces Ltd and Rohan Constructions Ltd and was absconding for years. "Accused Harresh Mehta has been arrested in the bank loan fraud case and produced before the competent court," CBI said.
CBI's Economic Offences Wing had in 2016 registered a case under various sections of the Indian Penal Code (IPC) based on a complaint lodged by the State Bank of India (SBI).
"The case was registered under sections 120 B 420 and 467 468 and 471 of IPC and various other sections," officials said.
The officials further mentioned that the investigation was initiated in 2016 after receiving a complaint from SBI against several accused including government servants and directors of a firm named Rajput Retail Limited (RRL).
"The complaint states that the directors of the firm RRL took a loan from SBI and defrauded the bank to the tune of Rs 280 crore," they added.
According to CBI investigations, Harresh Mehta created fake companies after taking the loan and then transferred the loan amount of Rs 155 crore to the shell companies.
"Several employees of State Bank of India bank may also be involved in this loan scam," a CBI official said.
"We are further investigating the matter," they added.
According to sources, Harresh Mehta is likely to file a bail application before the court, which CBI will oppose on Monday at the CBI Special Court in Thane.
Earlier, a Land Scam case was also registered against him with the state Economic Offense Wing. (ANI)