CBI Registers Case For Rs 230 Crore Bank Fraud

Central probe agency CBI has registered a case against real estate developer Amrapali Leisure Valley Developers Pvt Ltd and its director Anil Sharma, among others. This FIR has been registered in connection with the alleged fraud of over Rs 230 crore from Bank of Maharashtra and Andhra Bank. Officials gave this information on Friday.

The FIR registered by the CBI alleged that banks had sanctioned loan facilities to develop a housing building on a plot of 1.06 lakh square meters in Tech Zone IV in Greater Noida, Uttar Pradesh. But the company failed to maintain financial discipline. This led to the account being declared a non-performing asset on March 31, 2017. The complaint filed by Bank of Maharashtra, part of the FIR, alleged that it resulted in a loss of over Rs 230.97 crore.