According to reports, the Central Bureau of Investigation (CBI) has detained Praveen Aggarwal and Anil Kumar, two former directors of Bharat Box Factory Limited, in Jammu for allegedly cheating the State Bank of India (SBI) of over Rs 80 crore.
In response to a complaint the bank made against the company and its directors in 2020, the CBI took action. Both were remanded to seven-day CBI detention after being brought in a CBI court in Jammu.
According to a CBI spokeswoman, a complaint from the State Bank of India (SBI), SAM Branch, Ludhiana, led to the filing of a case on February 12, 2020, against the private company and others, including its managing director (MD) and directors.
“It was alleged that the accused conspired with unidentified State Bank of India officials to defraud the bank between the years of 2006 and 2019 to the tune of Rs 87.88 crore (total amount with interest of approximately Rs 121.13 crore) by forcibly removing equipment and other items without authorization or informing the lending banks,” he said.