New Delhi (Agency): As the searchlight of justice beams brightly upon financial malfeasance, the Central Bureau of Investigation (CBI) has launched a formal inquest against K J Infrastructure Projects India Pvt Ltd, a Pune-based construction company. The company and its directors stand accused of a monumental bank fraud case, allegedly siphoning off a hefty sum exceeding Rs 91 crore.
In response to an official complaint lodged by the Union Bank of India, the CBI took swift action, naming the implicated directors. These individuals include Kalyan J Jadhav, Kalyan Eknath Kakade, Santosh Sambhaji Dhumal, Amol Maruti Paigude, along with an auxiliary enterprise, Wing Infrastructure Engineering Pvt Ltd, and one Vinod Kalyan Jadhav.
The underlying allegations stem from an ostensible manipulation of company financial records. Accusations against the company and its directors indicate that they exploited credit facilities predicated on inflated stocks-book, embellished debts statements, and falsified financial documents. These purported discrepancies, featuring overstated sales, income, and profit margins, allegedly facilitated the extraction of greater sums from the lending bank.
The investigative agency asserts that the funds obtained through these dubious means were subsequently funneled into the coffers of associated entities. Such unauthorized financial activities reportedly led to a colossal loss to Union Bank of India, approximating a staggering Rs 91.92 crore.
In pursuit of compelling evidence, the CBI conducted rigorous searches throughout Pune District. “Searches were conducted at various places in and around Pune District which led to the recovery of incriminating voluminous documents, hard disks, electronic gadgets etc. from the premises of accused,” a CBI spokesperson declared. The dragnet operation yielded a trove of potentially implicating artifacts, including extensive paperwork, electronic devices, and hard disks, all unearthed from the residences of the accused.
