Latest news with #RKArora
Time of India
14 hours ago
- Business
- Time of India
CBI registers FIR against Supertech, promoter for allegedly defrauding IDBI Bank of ₹126.07 crore
NEW DELHI: The CBI has registered an FIR against Noida-based construction firm Supertech Limited and its promoter R K Arora among others for allegedly defrauding IDBI Bank of Rs 126.07 crore, officials said Saturday. Arora has been named in the FIR alongside whole-time directors Sangita Arora, Mohit Arora, Parul Arora, Vikas Kansal, Pradeep Kumar, Anil Kumar Sharma, and Anil Kumar Jain, in addition to the Noida-based company, they said. On Saturday, the CBI conducted coordinated search operations at five locations linked to the accused, including official and residential premises in Noida and Ghaziabad, in connection with the case. During the raids, agency officials seized cash amounting to Rs 28.5 lakh, CBI's spokesperson said in a statement. The case was initiated following a complaint from IDBI Bank, which alleged that the accused had conspired to misappropriate sanctioned loan funds through fraudulent means. According to the FIR, the bank alleged that the company and its directors submitted forged documents to secure credit facilities under false pretences. The loan account was subsequently declared a wilful default and categorised as fraudulent, allegedly resulting in wrongful losses totalling Rs 126.07 crore to IDBI Bank Ltd., the CBI said.
Indian Express
a day ago
- Business
- Indian Express
CBI files FIR against Supertech, promoter Arora, others for ‘defrauding' IDBI Bank of Rs 126.07 crore
The Central Bureau of Investigation (CBI) has registered an FIR against Noida-based construction firm Supertech Limited and its promoter R K Arora, among others, for allegedly defrauding IDBI Bank of Rs 126.07 crore. The case was initiated following a complaint from IDBI Bank, which alleged that the accused had conspired to misappropriate sanctioned loan funds through fraudulent means, said officers. According to the FIR, the bank alleged that the company and its directors submitted forged documents to secure credit facilities under false pretences. 'A complaint dated April 23 was received from Hari Kumar Meena, DGM, IDBI Bank, (East Kidwai Nagar) regarding the alleged offences of criminal conspiracy, cheating, forgery, using forged documents as genuine, criminal breach of trust and criminal misconduct by accused Directors of M/s Supertech Limited, having its address at Supertech E-square, 23rd Floor, Plot No. C-02, Sector 96, Noida, in conspiracy amongst themselves and with unknown public servants, whereby IDBI Bank Ltd was cheated to the tune of Rs 126.07 crore,' the FIR said. 'Arora has been named in the FIR along with whole-time directors Sangita Arora, Mohit Arora, Parul Arora, Vikas Kansal, Pradeep Kumar, Anil Kumar Sharma, and Anil Kumar Jain, in addition to the Noida-based company,' a CBI spokesperson said. On Saturday, the CBI conducted coordinated searches at five locations linked to the accused, including official and residential premises, in Noida and Ghaziabad in connection with the case. 'Searches were conducted at five different official and residential premises of the accused company and its promoter/directors in Noida and Ghaziabad. Incriminating documents and cash totalling Rs 28.50 lakh were found during a search at the premises of one of the directors,' the spokesperson said. 'It was also alleged that the borrowers submitted forged documents as genuine to IDBI Bank Ltd., thereby inducing the bank to part with loan funds. The loan account was subsequently declared a wilful default (account) and categorised as fraudulent, allegedly resulting in wrongful losses totalling Rs 126.07 crore to IDBI Bank Ltd,' the spokesperson from the central probe agency alleged.
Mint
a day ago
- Business
- Mint
CBI books Supertech, its promoter RK Arora for cheating IDBI Bank of ₹126.07 crore
The Central Bureau of Investigation has filed an FIR against Noida-based real estate developer Supertech, its promoter RK Arora and others for allegedly cheating IDBI Bank to the tune of ₹ 126.07 crore, officials said on Saturday. Alongside Arora, the construction firm's whole-time directors Sangita Arora, Mohit Arora, Parul Arora, Vikas Kansal, Pradeep Kumar, Anil Kumar Sharma, and Anil Kumar Jain were named in the FIR, apart from the company itself, according to the officials. Officials of the CBI on Saturday conducted coordinated search operations in five locations linked to the accused persons. Searches were conducted at official and residential premises in Noida and Ghaziabad in connection with the case. During the raids, agency officials seized cash amounting to ₹ 28.5 lakh, CBI's spokesperson said in a statement. The case was initiated following a complaint from IDBI Bank, which alleged that the accused had conspired to misappropriate sanctioned loan funds through fraudulent means. According to the FIR, the bank alleged that the company and its directors submitted forged documents to secure credit facilities under false pretenses. The loan account was subsequently declared a wilful default and categorised as fraudulent, allegedly resulting in wrongful losses totalling ₹ 126.07 crore to IDBI Bank Ltd., the CBI said. Observing an 'unholy' nexus between the banks and developers, the Supreme Court in April had directed the CBI to register a preliminary inquiry into projects of realty major Supertech Limited in NCR. A bench of Justices Surya Kant and N Kotiswar Singh took into account an affidavit filed by CBI and directed the UP, Haryana DGPs to give a list of DSPs, inspector, constables to the agency to constitute a special investigation team (SIT). The top court further directed the CEOs/administrators of Greater Noida Authority, Noida Authority, secretary, Ministry of Housing and Urban Affairs, the Institute of Chartered Accountants of India and RBI to notify one nodal officer from among their senior-most officers within a week to extend necessary assistance to the SIT. The apex court previously said thousands of homebuyers were affected by the subvention scheme, where banks paid 60 to 70 per cent of the home loan amount to the builders without projects being completed within the stipulated time. The apex court had then ordered the CBI to submit a roadmap on how it planned to unravel the "builder-banks nexus" which duped thousands of homebuyers in the NCR and proposed to go into the root of the matter.
News18
a day ago
- Business
- News18
CBI Books Supertech, Its Promoter RK Arora For Cheating IDBI Bank Of Rs 126 Crore
Last Updated: The Central Bureau of Investigation (CBI) filed an FIR against Supertech Limited and its promoter RK Arora for allegedly defrauding IDBI Bank of Rs 126.07 crore, said officials. The Central Bureau of Investigation (CBI) filed an FIR against Supertech Limited and its promoter RK Arora for allegedly defrauding IDBI Bank of Rs 126.07 crore, said officials. The FIR also names the company's whole-time directors, including Ram Kishor Arora, Sangita Arora, Mohit Arora, Anil Kumar Sharma, Vikas Kansal, Pradeep Kumar Goel, Anil Kumar Jain, and Parul Arora. The CBI also conducted searches at five locations linked to the accused, including both residential and official premises in Noida and Ghaziabad, according to news agency PTI. In a statement, the agency's spokesperson said CBI officials recovered Rs 28.5 lakh in cash during the raids. The case originates from a complaint filed by IDBI Bank, alleging that the accused conspired to commit fraud and diverted loan funds for purposes other than intended. The CBI noted that the loan account was later classified as a wilful default and marked as fraudulent, causing an alleged loss of Rs 126.07 crore to IDBI Bank Ltd. In April, the Supreme Court had ordered the CBI to initiate seven preliminary enquiries into alleged collusion between builders and banks under subvention schemes. The agency was directed to investigate multiple Supertech projects and examine the role of banks that financed their housing developments across the NCR and other states. First Published: June 14, 2025, 19:47 IST
NDTV
a day ago
- Business
- NDTV
FIR Against Supertech, Its Promoter For Defrauding IDBI Bank Of Rs 126.07 Crore
New Delhi: The CBI has registered an FIR against Noida-based construction firm Supertech Limited and its promoter R K Arora among others for allegedly defrauding IDBI Bank of Rs 126.07 crore, officials said Saturday. Arora has been named in the FIR alongside whole-time directors Sangita Arora, Mohit Arora, Parul Arora, Vikas Kansal, Pradeep Kumar, Anil Kumar Sharma, and Anil Kumar Jain, in addition to the Noida-based company, they said. On Saturday, the CBI conducted coordinated search operations at five locations linked to the accused," including official and residential premises in Noida and Ghaziabad," in connection with the case. During the raids, agency officials seized cash amounting to Rs 28.5 lakh, CBI's spokesperson said in a statement. The case was initiated following a complaint from IDBI Bank, which alleged that the accused had conspired to misappropriate sanctioned loan funds through fraudulent means. According to the FIR, the bank alleged that the company and its directors submitted forged documents to secure credit facilities under false pretences. The loan account was subsequently declared a wilful default and categorised as fraudulent, allegedly resulting in wrongful losses totalling Rs 126.07 crore to IDBI Bank Ltd., the CBI said.
