The CBI has filed an FIR against Ruchi Global Limited and its directors for allegedly cheating a consortium of banks led by Bank of Baroda to the tune of Rs 188.35 crore, officials said on Wednesday. The agency carried out searches at the premises of the accused at six locations in Indore, Mumbai and Bangalore, they said. The agency has booked Ruchi Global Limited and its directors Umesh Shahra, Saket Barodia and Ashutosh Mishra in the case pertaining to the alleged fraud between January 1, 2016 and December 31, 2017. It is alleged that the accused fraudulently indulged in diversion of funds, speculation transactions, non-routing of sale proceeds in consortium bank accounts, transactions with related parties/sister concerns, etc., the CBI spokesperson said in a statement.
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