CBI books SEL Textiles, directors for cheating consortium of banks to the tune of Rs 1,530 crore, Retail News, ET Retail

New Delhi: The CBI has booked Ludhiana-primarily based SEL Textiles Ltd and its directors for allegedly dishonest consortium of banking institutions to the tune of Rs one,530 crore, officials reported on Monday. The directors of the conglomerate–Ram Sharan Saluja, Neeraj Saluja and Dhiraj Saluja–have also been named as accused in the CBI FIR along with unidentified other individuals, they reported.

The probe company acted on a criticism from the Central Financial institution of India, which alleged that the enterprise and its directors indulged in criminal conspiracy to defraud the banking institutions and divert bank loan resources with an intention to misappropriate them concerning 2009-thirteen, triggering a decline of Rs one,530 crore to 10 community sector banking institutions of the consortium, they included.