The Central Bureau of Investigation (CBI) has booked Gujarat-based Vimal Oil & Foods Limited and others for allegedly cheating a consortium of nine banks to the tune of ₹678.93 crore.
The other accused have been identified as Jayeshbai Patel, Mukeshkumar Patel, Ditin Patel and Mona Acharya, all directors of Vimal Oil & Foods Limited. “Searches are being conducted at six places in Ahmedabad and Mehsana in Gujarat,” an official said.
It is alleged that the company had received various credit facilities amounting to ₹810 crore from the consortium led by the Bank of India. The accused persons diverted the funds from 2014 to 2017 through sham transactions.
They maintained bank accounts outside the consortium and showed transactions with the parties that were in other businesses.
