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.
CBI arrests company CMD for alleged ₹289 15-crore loan fraud thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
The CBI has arrested Jag Mohan Garg, chairman and managing director of Tirupati Infraprojects Private Limited, in a Rs 289.15 crore bank fraud case, officials said on Monday.