Jag Mohan Garg, chairman and managing director of Tirupati Infraprojects, has been sent to two weeks of judicial custody in a Rs 289.15 crore ($38.6m) bank fraud case. The Central Bureau of Investigation (CBI) said the accused was involved in a fraud which was a "huge amount" and that the allegations were "serious". Garg sold commercial/retail/office spaces of the said hotel-cum-commercial building without informing the banks, it was alleged.
A Delhi court on Monday sent Jag Mohan Garg, chairman and managing director of Tirupati Infraprojects Private Limited, to two weeks of judicial custody in connection with a Rs 289.15 crore loan fraud case.The Central Bureau of Investigation, .
Tirupati Infraprojects: The Central Bureau of Investigation (CBI) registered an FIR against the company on May 25, 2022, for allegedly causing a loss to the tune of Rs 289.15 crore to a consortium of public sector banks led by the Bank of India by illegally diverting loan funds, the officials said.
The investigating agency, CBI, informed that a case was registered on 25 May 2022, against the New Delhi-based Tirupati Infraprojects, and others, including the Chairman and Managing Director, , bank fraud, Central Bureau of Investigation (CBI)
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