Latest news with #RamKishorArora
Hindustan Times
2 days ago
- Business
- Hindustan Times
CBI books Supertech directors over ‘ ₹126-cr bank fraud' case
The Central Bureau of Investigation (CBI) on Saturday raided five locations in Uttar Pradesh's Gautam Budh Nagar and Ghaziabad in connection with a case of alleged bank fraud involving over ₹126 crore. The case pertains to Noida-based construction firm Supertech Limited and its promoters and directors, who allegedly caused a wrongful loss of ₹126.07 crore to IDBI Bank Ltd, officials said. According to a CBI press release, search operations were conducted at the official and residential premises of the company's top executives. The raids led to the recovery of incriminating documents and ₹28.5 lakh in cash from one of the director's premises, the agency said. The searches were ongoing at the time of the statement, with more seizures likely, officials added. The raids were carried out after the agency registered a case based on a written complaint from IDBI Bank, which alleged that Supertech and its promoters conspired with unknown bank officials to secure loan funds fraudulently, officials said. The FIR names Supertech Limited, along with its promoter and managing director Ram Kishor Arora, and whole-time directors Sangita Arora, Mohit Arora, Parul Arora, Vikas Kansal, Pradeep Kumar, Anil Kumar Jain, and Anil Kumar Sharma. All except Sharma are residents of Gautam Budh Nagar; Sharma is based in Rajendra Nagar, Ghaziabad, officials said. In response to the allegation, Supertech chairman RK Arora said that the process to settle the matter with the bank is underway. 'The plan to deliver the housing projects and mode of payment to the IDBI Bank, has already been submitted to the Supreme Court in an ongoing case. Our one time settlement with the IDBI is already in process. We informed the CBI about the details that they sought from us. We are working out on plans to deliver the projects,' Arora told HT. According to the FIR, the accused allegedly submitted forged documents as genuine to IDBI Bank to obtain credit facilities. The loan account was later declared fraudulent and categorised as a wilful default, causing the bank a financial loss of ₹126.07 crore. 'The accused entered into a criminal conspiracy to cheat and misappropriate the funds sanctioned by the bank,' the CBI said, adding that the agency had received a complaint from the bank and then launched a preliminary inquiry before registering a formal case. CBI officials confirmed that coordinated raids were conducted across five premises linked to the accused, including company offices and directors' residences in Noida and Ghaziabad. (With inputs from Vinod Rajput)
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Business Standard
2 days ago
- Business
- Business Standard
CBI books Supertech, officials for Rs 126 cr bank fraud, raids premises
The Central Bureau of Investigation (CBI) on Saturday registered a case against real estate firm Supertech Limited, its promoters, directors, and unknown bank officials for allegedly cheating IDBI Bank to the tune of Rs 126.07 crore. The case was filed on a written complaint by IDBI Bank Ltd., alleging that the accused entered into a criminal conspiracy to misappropriate funds sanctioned by the bank. It was further alleged that the borrowers submitted forged documents to get the funds released. The account was later declared fraudulent, and the borrowers were labelled wilful defaulters for causing a wrongful loss to the bank. The CBI also conducted searches at five official and residential premises linked to the accused in Noida and Ghaziabad. During the operation, the agency recovered incriminating documents and cash amounting to Rs 28.50 lakh from the residence of one of the directors. The searches are still underway, according to officials. According to the CBI, the accused named in the FIR include Ram Kishor Arora (promoter & managing director), Sangita Arora (whole-time director), Mohit Arora (whole-time director & promoter), and Parul Arora (whole-time director), all residing in Sector-36, Noida. Other individuals named are Vikas Kansal, Anil Kumar Jain and Pradeep Kumar, whole-time directors residing in Sector-93A, Noida; Anil Kumar Sharma, whole-time director from Rajender Nagar, Sahibabad. The company, Supertech Limited, headquartered at Supertech E-Square, Sector-96, Noida, has also been named in the FIR.
India Today
2 days ago
- Business
- India Today
Case against Supertech, promoters in Rs 126-crore IDBI Bank loan fraud case
The Central Bureau of Investigation (CBI) has registered a criminal case against real estate developer Supertech Limited, its promoters, directors, and unidentified officials of IDBI Bank Ltd in connection with a loan fraud amounting to Rs 126.07 crore. The action comes in response to a written complaint filed by IDBI Bank, alleging criminal conspiracy, cheating, and misappropriation of to the First Information Report (FIR), the accused are alleged to have submitted forged and fabricated documents to IDBI Bank to obtain credit facilities. Based on these falsified documents, the bank sanctioned loans which were later misused and diverted. After repeated defaults in repayment, the borrower was declared a wilful defaulter, and the account was officially classified as fraud, resulting in a substantial financial loss to the the individuals named in the FIR is Ram Kishor Arora, Promoter and Managing Director of Supertech Ltd. Alongside him, Sangita Arora, Parul Arora, and Mohit Arora, all Whole-Time Directors and members of the promoter group, have also been booked. The corporate entity M/s Supertech Limited, headquartered at Supertech E-Square in Noida, has also been named as an accused. In addition, the CBI has booked Vikas Kansal and Pradeep Kumar, both serving as Whole-Time Directors of the company, as well as directors Anil Kumar Sharma and Anil Kumar Jain, both based in Friday, as part of its investigation, the CBI conducted searches at five locations, including residential and office premises linked to the company and the accused individuals in Noida and Ghaziabad. During the raids, the agency recovered incriminating documents and seized cash worth ?28.50 lakh from the premises of one of the
News18
2 days 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
