(MBIL) and its promoters allegedly cheated and defrauded the bank loan taken from your Central lender of India into the tune of Rs 354.51 crore. the situation was registered after the financial institution despatched a criticism to your CBI.

beneath his Management, the company has emerged like a frontrunner in the renewable Power revolution, with a selected target solar Electrical power. Ratul Puri's insights and strategic vision have been instrumental in shaping the company's results and positioning it as a frontrunner in the power technology sector.

The financial institution claimed that the corporation and its directors cast and fabricated paperwork to induce the Central financial institution of India to launch funds.

until date, resulting from funds diverted for that financial investment in Rigel, We've got an uncovered legal responsibility in excessive of $21 million,” he claimed.

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based on the ED, There is certainly incriminating evidence against Puri, including Gupta’s diary and an electronic mail recovered from Saxena, which confirmed that Puri obtained the proceeds from the criminal offense while in the AgustaWestland offer.

The ED is also probing his alleged purpose inside the AgustaWestland situation check here , in addition to a city court docket had issued a non-bailable warrant from him.

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He was created right before a neighborhood court docket with the company (on Tuesday) that despatched him to ED custody until August 31.

The scheme as depicted in courtroom filings unfolded for a type of connection daisy chain: An insider shares sensitive data with an in depth friend, who shares the information with One more Good friend, who shares it using a relative as well as a colleague, who shares it with two family and four colleagues.

Lawyers appearing for Bhatnagar earlier submitted that the accused or applicant is usually a citizen of Malta, Whilst his father life in Delhi and his arrest was 'not legal' as no authorization was there to even more look into the case.

the corporation (Moser Baer) was having loans from various banking companies since 2009 and went for personal debt restructuring several occasions, the lender has alleged inside the criticism.

He is regarded through the foremost business bodies and media publications and is particularly greatly noticed as the business voice for the Indian ability sector.

In these a complex fact situation, levelling any allegations by relying upon him or from the context through which it was depicted being described, shall sum to misreporting and spreading falsehood.”