Indianbank Cheaters Lists

MAIN :
ADV - 139 / 2012-13
SUB :
CLIST - 08
a
Corporate Office, Credit
Division
DT.
15-02-2013
FILE
M-2
S-215
Sub : Caution Notice No. 08 / 2012-13
It has been brought to the notice that serious irregularities were committed in some
banks, in the conduct and operations of the accounts given in the annexure.
Details in regard to addresses, names of proprietors / partners / directors and the
nature of irregularities are also furnished in the annexure.
The information is brought to the notice of branches in the strictest confidence.
Branches are advised to make detailed and in-depth enquiries and take up with
Head Office before processing/ renewing any facility to the parties named in the
Annexure.
Upon receipt of this notice, Branch Managers are requested to
verify thoroughly and to report to their Zonal Office within a week, as to

whether any credit facility is being enjoyed by the said Entities / Persons from our
Bank. If the Zonal Office receives no information from the branches, within a week
from the date of this Circular, it will be construed that no sanction has been made
to any of the listed parties. The Zonal Managers shall furnish a consolidated
report furnishing the details of the status of the account, security details,
nature of irregularities, if any, in our Bank, vis-a-vis the irregularity reported
in this circular, etc., to HO: Credit Division positively within two weeks from
the date of this Circular, as these information are to be passed on to RBI by
Head Office. This circular may please be kept in the personal custody of the
Branch Manager and Credit Officer should make use of it, for confidential
reference at all times.
G V Balasubramanian
Deputy General Manager (DC)
Annexure to Caution Notice No. 08 / 2012-13

1
M/s Anil Engineers

W-175 A,S Block, MIDC Bhosari Pune-411026
Shri Anil Dhamande
68/4, Madhur CHS Indrayani Nagar Bhosari Pune-411 026
M/s Charika Industries
Address
Proprietor
Address
Proprietor Shri Bipin Acharlal Desai

Ist floor, Room No.3 Jethabai Building Bomanji Patit Road Mumbai-400026
Address
Nature of Irregularities
A financial institution (FI) had sanctioned a term loan of Rs. 8.30 mn on July 11, 2008 to
the borrower firm for purchase of machines. Disbursement of Rs. 7.39 mn was made
directly to the machinery supplier. The unit was visited on October 23, 2010 and it was
observed that all the machines were installed and project was implemented. In March
2011 the borrower informed the FI that he has shifted the machines to another location at
Chinchwad, Pune and given the machines on rent to M/s Press Fab Engineers India Pvt
Ltd. All the machines acquired under the project were not available at the new site also
but the borrower failed to give details regarding whereabouts of the machines. Enquiries
with the supplier of the machines at Ludhiana revealed that the invoices submitted by the
borrower to the FI were not issued by them and they also denied having any bank
account with the bank in Mumbai in which the proceeds of the disbursements were
credited by the said FI. It turned out that the borrower in connivance with a fictitious
machinery supplier (M/s Charika Industries) siphoned of the loan amount by submitting
fake / forged invoices.
Thus the FI was defrauded to the tune of Rs. 9.97 mn.
2
M/s Gokul Mega Stores

Address
Shop No. 14-A, Ashoka Ratan Shankar Nagar, Raipur 492 001,
Chattisgarh State.
Proprietor Shri Vijay Garg

Address
Flat. No. 22, Block-21, Ashika Ratna Complex, Vidhan Sabha Road,
Khamardih, Raipur 492 001, Chattisgarh State.
A bank (Bank-A) had sanctioned a Cash Credit limit of Rs. 9.00 mn on September 3,
2011 to the borrower firm. This was a takeover loan from another bank (Bank-B) in
Raipur. The firm was a dealer of M/s Hindustan Unilever Ltd., and the limit was proposed
to be secured by EM of two properties standing in the name of the proprietor of the firm,
Shri Vijay Garg (these properties were already charged to Bank-B). Bank-A remitted a
sum of Rs. 5.99 mn through RTGS to bank-B for credit to the CC account of M/s Gokul
Mega Stores. Three letters addressed to Bank-B between October 11, 2011 to November
21, 2011 advising them about the remittance of funds for takeover of advance were given
to the borrower for onward delivery to Bank-B. The borrower did not hand over these
letters to Bank-B. Bank-A vide their letter dated December 22, 2011 again asked Bank-B
to issue a 'No due Certificate' and handover the title deeds of properties mortgaged to
them by the borrower. Bank-B in turn advised bank-A that they were not aware of the
sanction of credit facilities by Bank-A to the borrower. RTGS received in usual course was
credited to the account of the beneficiary and funds were withdrawn by the borrower.
Borrower and his family members were not traceable.
Thus the bank was defrauded to the tune of Rs. 7.92 mn.
2
M/s Patra Enterprises

Address
Proprietor
Address
Rural Marketing Agent
Address
Naya Bazar Balasore Orissa

Shri Bijan Kumar Patra
Arad Bazar Balasore Orissa
Shri R.S. Sharma
M/s Utkal Syndicate, Ist floor, Brit Market Complex O. T.
Road, Station Square Balasore-756001
A bank had sanctioned an Overdraft limit of Rs. 1.60 mn to the borrower in August 2004
which was later enhanced to Rs. 2.30 mn. This facility was secured by mortgage of two
properties. When the account turned NPA in December 2007, bank took action under
SARFAESI Act. When possession of the first property was taken by the bank, father of
the borrower, Shri Rajkishore Patra filed a civil suit claiming that the property possessed
by the bank was never mortgaged to the bank. Investigations revealed that the property
did not belong to the borrower and documents submitted were fake and fabricated. In
case of the second property, it was revealed that the borrower had sold the property to a
third party, one Shri Gopal Krushna Saw in October 2009. Investigations also revealed
that the borrower had perpetrated the fraud in connivance with the Rural Marketing Agent
(RMA) of the bank.
M/s Sai Creation

Proprietor
Address
Machinery Supplier
Proprietor
Address
Shri Bhavesh Ratilal Ranpriya

Flat No.1003, 10th floor Tapan Building, Rajhans Swapn
High Rise Sarthana, Jakat Naka Surat
M/s Pal Impex
Shri Hiteshbhai Khimjibhai Virani
A/4, Ishwar Palace, Near Dairy Donhira Baug Varacha
Road Surat-395006
A bank had sanctioned a term loan of Rs. 8.60 mn on September 8, 2011 to the borrower
for purchase of imported water jet looms from China. Disbursement was made directly to
the machinery supplier. The unit was visited during December 2011 and it was observed
that some machines had arrived and were being installed. Since the account turned
irregular in August 2012, unit was visited on August 29, 2012, but the visiting team could
not locate the factory site. Promoter contacted the bank next day and informed that due to
some problem with the landlord he had shifted the machines to a new location. The new
site belonged to two other units financed by the bank. Borrower subsequently visited the
branch in September, 2012 and informed that he had sold off the machines and till date
failed to clear the dues. The bank officials visited the address of the machinery supplier
(as per invoice) and found that no such firm existed at the given address. The bank,
where the proceeds of the loan were credited, informed that the account in the name of
M/s. Pal Impex, the purported supplier, was opened by one Shri H K Virani as proprietor.
An amount of Rs. 1.62 mn was withdrawn in cash and Rs. 2.00 mn was credited to the
account of the borrower and his wife. The Invoices submitted by the borrower were
fictitious / fake.
Thus the bank was defrauded to the tune of Rs. 7.88 mn
M/s Shaan Foods

Gudda Village, Rohtak Road Jhajjar District Haryana
Proprietor Shri Ajay Nehra
Flat No.106-107, No. 877, East Park Road Karol Bagh, New Delhi-110 008
Address
Address
A bank had sanctioned an overdraft limit of Rs. 7.50 mn to the firm on March 3,
2010. This facility was secured by EM of a property. When the account was
classified as NPA on September 30, 2011, bank initiated recovery steps under
SARFAESI Act. During investigations it came to light that the borrower had availed
loans from two more banks against the security of the same property. A fresh
Search Report indicated that the title deeds deposited with the bank were not
genuine. Two other banks who had financed the borrower had lodged a complaint
with the police in the matter.
6
Shri Patnam Amruth Prasad

Address
Plot No.58 & 59, Dhanlakshmi Society Road No.8, Mahendra Hills,
Secunderabad
A bank had sanctioned a loan against property of Rs. 11.00 mn to the borrower
against a commercial property (shop) on August 23, 2008. During surprise asset
verification in June 2012 by the bank it came to light that the borrower had entered
into an agreement of sale, in respect of this property, on August 30, 2008 in favour
of three persons. This was an effort by the borrower to sell the funded property
without bank's permission.
7
Shri Pradeep Chintaman Ghose

Address
Flat No.1, Yashomati Society, Shakti Nagar, Hirawadi, Nashik

422003.
The party had submitted 33 housing loan proposals on behalf of various persons
from February 24, 2010 to July 20, 2011 to an Urban Co-operative bank. These
33 borrowers had applied for housing loans/overdrafts against the security of
mortgage of properties. All the loans were processed and disbursed after
completing necessary documentation formalities. During routine scrutiny of
overdue of branches, Zonal Office found that 19 accounts (out of 33 proposals
given by Shri Pradeep Chintaman Ghose) required further probing.
On enquiry with the Sub-Registrar Office about registration of Sale Agreements
revealed that all the Government stamps put on Sale agreements were not done
by them and were forged. The banks branches also informed that franking on
Sale Agreements was not done by them and was forged. The bank was
defrauded to the tune of Rs.21.31 mn in these 19 loan accounts.
(1) M/s. Sidhhi Graphics

206, Kemp Plaza, Mind Space, Next to Evershine Mall,
Malad (West), Mumbai.
Shri. Sameer N Shah
Proprietor
Excellency Tower, Flat No. 601, E-Wing Inderlok, Phase VI,
Address
Bhayander (E), Thane.
14 B, Ram Mandir Road, Vadaj, Ahmedabad, Gujarat.
Per. Address
(2) M/s. Parmar Trading Company
Address

Shri. Chandrakant Desai
Proprietor
Vaishnav Heights, Flat No. 305, 3rd Floor Near Fatima
Address
Church, Majiwada, Thane.
(3) M/s. Madhav Enterprises
Address
Address
Proprietor
Address

Shri. Nikhil Girish Patt
Om Dwarakanath Co-op. Housing Society Ltd., Row House
No. 8, Sector 19/A, Plot No. 11, Nerul, Navi, Mumbai.
Shri. Himanshu R.Bhatt and Shri. Ilesh Shah, the representatives of M/s. Sidhhi
Graphics, M/s. Parmar Trading Company and M/s. Madhav Enterprises
approached a bank for negotiation of bills under ILCs opened by another bank.
Branch received full set of bills/documents along with original ILCs for the purpose
of negotiation. The branch had sent the original LCs for verification and also to
ascertain the genuineness of the LCs to the LC opening bank by deputing an
official alongwith pay orders towards applicable charges. An official of LC opening
bank had apparently verified the signatures on the original LCs and thereafter, the
banks official had submitted the original documents for acceptance to LC opening
bank. On receipt of acceptance of documents by the drawee and due date
confirmation advice from LC opening bank, four bills amounting to Rs. 101.80 mn
were negotiated. After deducting the charges/interest, the funds were credited to
the current accounts of M/s. Sidhhi Graphics& M/s. Parmar Trading Company and
the amount was remitted through RTGS to a third bank for the credit of M/s.
Madhav Enterprises (beneficiaries).
On July 05, 2012, a representative of M/s. Madhav Enterprises approached the
bank and stated that they were having one more LC of the above bank which they
wanted to negotiate. In order to confirm the status of the LC, the bank contacted
the above LC opening bank on July 05, 2012 over phone who denied having
issued any such LC. The branch received a letter dated July 07, 2012 by fax on
July 10, 2012 from LC opening bank denying having issued any such LCs and
confirmation letters for payment of bills under LCs on due dates .
Thus, the fraud amounting to Rs. 101.80 mn perpetrated by the outsiders on the
bank came to light.
(A) M/s VTR Freight Forwarders

Proprietor Smt. Mane Amita Datta
Address
Bldg.-57/1854, Nehru Nagar, Gurukrupa Co-op Housing Society Ltd.
Kurla East, Mumbai 400080.
Associate (1) M/s V.Tej Container Movers
Concerns
Proprietor Smt. Lodaya Damayanti Valji
Associate (2) M/s Shree Jalaram Roadways
Concerns
Proprietor Shri Lodaya Vijay Valji
Associate (3) M/s V.Tej Roadlines
Concerns
Proprietor Shri Lodaya Tejas Valji
Address
D/2, Om Riddhi Sidhi Apartments, S.N.Road, Mulund (W), Mumbai-400 080
Associate (4) M/s Tej Logistics

Concerns
Proprietor Shri Maisheri Laherchand Laxmichand
701, Pranav Apartment, M.G.Road, Mulund (West), Mumbai-400 080.
Address
The borrowers applied for loan for purchase of trailers to an urban co-operative bank
submitting quotations. Bank sanctioned her term loan of Rs.5.92 mn on November 30,
2011 and disbursed the loan on December 17, 2011 routing the proceeds through the
borrowers account. The borrower submitted the bills, Insurance policies and RTO
Certification which were subsequently found to be fabricated. The borrower defrauded the
bank to the tune of Rs.5.07 mn
Again the same borrower applied for loan for purchase of trailers submitting quotations.
The bank sanctioned her term loan of Rs.17.7 mn on November 30, 2011 and disbursed
the loan on December 27, 2011 routing the proceeds through the borrowers account.
The borrower submitted the bills, Insurance policies and RTO Certification which were
also found to be fabricated. The borrower defrauded the bank to the tune of Rs.15.05 mn.
(B) M/s V.Tej Roadlines

Proprietor Mr Lodaya Tejas Valji
Address
67/3 C.K.Building, 178 Sant Tukaram Road, Mumbai-400 009.
The borrowers applied for loan for purchase of trailors to an urban co-operative bank
submitting quotations. Bank sanctioned him term loan of Rs.20.00 mn on October 20,
2009 and disbursed the loan on October 26, 2009 routing the proceeds through the
borrowers account. The borrower submitted the bills, Insurance policies and RTO
Certification which subsequently found to be fabricated. The borrower defrauded the bank
to the tune of Rs.7.56 mn.
Again the same borrower applied for loan for expansion of business, by giving property as
primary security & the above trailors as collateral security. The bank sanctioned him term
loan of Rs.10.0 mn on November 04, 2010 and disbursed the loan routing the proceeds
through the borrowers account. Since the collateral furnished by the borrower was not
genuine the borrower defrauded the bank to the tune of Rs.8.09 mn.
10
1) Shri Abhishek Kumar Sinha / Singh S/o Shri Brijnandan Prasad

VII Karampur, PO Bhandari, Nalanda District.
2) Shri Daroga Prasad Ray
Address
Proprietor M/s Kisan Tractors

Address
Kargil Chowk, NH 31, Bihaesherif, Nalanda District.
The Branch Manager of a bank, in collusion with fraudsters, sanctioned seventy

eight loans to various borrowers against securities like fixed deposits, NSCs, LIC
policies which were, in some cases, fictitious and in other cases against the
deposits of third parties without their knowledge and consent. The charge was
created in the system by marking hold (lien) on the deposits of other customers;
the proceeds of which were credited to unrelated accounts and then withdrawn.
The loans were sanctioned for the benefit of Shri Abhishek Kumar Singh, Shri
Daroga Prasad Ray and their family members. The loan proceeds were
transferred to their accounts and from these accounts the funds were transferred
to their accounts maintained with other banks through RTGS.
Thus, the bank was defrauded to the tune of Rs. 20.13 mn.
11
M/s. Sal Marketing

Address
Directors
F-24, Kalkaji New Delhi 110 019

1. Shri, Manoj Tandon
2. Smt. Manju Tandon
A bank had sanctioned an OCC limit of Rs. 4.00 mn & supply bills discounting
facility of Rs. 23.60 mn to M/s. Sal Marketing, a partnership firm of Shri, Manoj
Tandon and Smt. Manju Tandon in January 2006. The bank had made payment
for the supply bills drawn on M/s. Hyundai Motors India Ltd and M/s. Maruti Udyog
Ltd., which were discounted by the party on January 27, 2006. The bank had filed
an application before DRT on July 09, 2008 for recovery of dues in which the
above automobile companies were also incorporated in the suit and notices were
issued to them. The above companies in their written statement before the DRT in
response to OA filed by the bank against M/s Sal marketing in DRT Delhi, had
affirmed that no items or spare parts had ever been ordered or purchased by them
from M/s Sal Marketing. It, thus, emerged that bills/ delivery challans tendered to
the bank for discounting were forged and fictitious.
12
M/s. Bhole Flour Mills

Address
Mauza:Pachwa, Jasrana Road Jasrana Dist: Firozabad Uttar Pradesh
Partners
1. Shri. Manoj Kumar S/o. Shri. Kamta Prasad Sharma

C L Road, Himaunpur Tehsil Firozabad District, UP
2. Shri. Vipin Kumar S/o. Shri. Sushil Babu
Indra Nagar, Jalesar Road Firozabad District
Address
Partners
Address
Partners
Address
Guarantors
Address
Guarantors
Address
Guarantors
Address
Guarantors
Address
Guarantors
Address
Guarantors
Address
Guarantors
Address
Guarantors
Address
Guarantors
Address
Guarantors
Address
Guarantors
3. Shri. Brij Mohan Sharma S/o. Shri. Satya Narayaan Sharma

Jain Nagar Firozabad District
1) Shri. Ram Sevak S/o. Babu Ram
Jay Nagar, Vibhav Nagar Firozabad District
2) Smt. Rammurti Devi W/o. Late Rajan Lal
Indira Nagar, Firozabad District
3) Smt. Ram Beti W/o. Shri. Kamta Prasad Bashistha
Katrai Jasrana, Firozabad District
4) Shri. Ram Mohan S/o. Shri. Brij Mohan
C L Road, Himayupur Firozabad
5) Smt. Vineeta W/o. Shri. Krishna Pal singh
C L Road, Himayupur Firozabad
6) Shri Uma Shanker S/o. Shri. Shyam Lal
7) Shri. Grijesh Dixit S/o. Shri. Avadh Bihari Lal
8) Smt. Vimla Devi W/o. Shri. Jawahar Lal
39/3, Vibhav Nagar, Jalesar Road Firozabad
9) Smt. Radha Rani W/o. Shri. Ramji Lal Sharma
Shankerpuri, Shikohabad, UP
10) Shri. Bhimsen S/o. Shri. Gangaram
22, Karbala, Firozabad
11) Shri. Kamal singh S/o. Bheem Sen
22, Karbala, Firozabad
Address
A bank had sanctioned a Cash Credit limit of Rs. 6.00 mn and a term loan of Rs. 25.00
mn on June 15, 2009 to M/s. Bhole Flour Mills, Shikohabad (a partnership concern) for
construction of factory building and installation / purchase of plant and machinery.
The credit facilities were secured by equitable mortgage of factory land valued at Rs. 1.78
mn (purchase price Rs. 0.39 mn) as primary security and equitable mortgage of 10
properties in names of partners & guarantors, valued at Rs. 27.05 mn as collateral
security. The accounts were classified as NPA on March 31, 2011.
For recovery of dues, SARFAESI Action was initiated on May 13, 2011. During the course
of SARFAESI action for symbolic possession of the properties against the borrowers /
guarantors on September 26/27, 2011, it was observed that out of the 11 properties
mortgaged to the bank, 4 properties were not traceable. Later on, from fresh NECs of
these properties, it was found that the title deeds of 3 properties were fake and 2
properties were sold/occupied by other persons.
13
M/s Dhanunjaya Tug & Boats Partnership Firm

4-3-140/A, Yetimoga Kakinada
1. Shri Ponnada Satyanarayana MANAGING PARTNER,
Address
47-3-140/A PINAPOTHUVARI ST. YETIMOGA ,Kakinada
2. Shri Malladi Yedukondalu PARTNER,
Address
47-2-79 RAMALAYAM ST. YETIMOGA, Kakinada
Address
3. Smt. Ponnada Vinay Kumari (Partner) W/O SATYANARAYANA,

Address
47-3-140/A PINAPOTHUVARI ST. YETIMOGA, Kakinada
4. Smt. Malladi Veera Veni (Partner) W/O SRI YEDUKONDALU,
Address
47-2-79 RAMALAYAM ST. YETIMOGA, Kakinada
The firm was sanctioned a loan of Rs. 19.00 mn by a bank on October 04, 2010 to
purchase / procure a Tugboat. The borrower was initially repaying installments of
the loan and interest thereof regularly. Since the borrower was not inclined to
show the primary & collateral securities, the availability of the same came under
suspicion. Upon inquiries by the bank, it was revealed that, M/s V.K Enterprises
(prop: Sri Chitti Nageswara Rao), the fabricator/ contractor of the tugboat to whom
funds were released was a non-existent firm. The address of the firm and their
claim as specialist in boat & ship building and the letterheads/invoices, quotations
were all fake. The KYC verification of Sri Chitti Nageswara Raos account at
another bank, where an amount of Rs. 68 lakh, the part disbursal of the loan was
credited, revealed that the VAT copy submitted by Sri Rao was forged. The same
firm, M/s V.K Enterprises, with a different proprietor name i.e. Sri C Narayan Rao,
had also supplied fake quotations and invoices to one M/s Harish Boat Suppliers,
which had availed a loan against the same from the banks another branch.
The technical evaluation report for the term loan, carried out by M/s Team
Industrial Consultancy Services Pvt. Ltd., Visakhapatnam, had certified that
M/s V.K. Enterprises, Kakinada is one of the qualified and experienced Tug
manufacturers in the area. The bank had credited the remaining loan amount to
the current account of the borrower which was allowed to be withdrawn.
As per the terms of sanction, the boat has to be leased to M/s Esskay shipping (P)
Ltd. Before release of the loan, a stipulation was made, for entering into a tripartite
agreement between the bank, applicant and beneficiary (M/s Esskay Shipping P
Ltd). This agreement was not obtained by the bank.
On physical inspection of the Tugboat (primary security) it was found that a
tugboat was in semi finished condition painted with hypothecation information
mentioning the name of the bank but without mentioning name of the branch. Both
the branches of the bank were claiming the "asset" (boat / Tug) to be financed by
their branch. As per records of Traffic Manager Shipping & Traffic Manager Cargo,
Visakhapatnam Port, there was no tug registered in the name of M/s V.K
Enterprises. It was also reported that partners of M/s Dhanunjaya Tug Boats and
M/s Harsh Boats Suppliers are from the same family and related to each other.
Thus it was clear that the borrower had cheated both the branches by showing the
same boat / Tug as security. The bank also could not identify collateral security of
2 Acres of land at Nidigutta village Visakhapatnam mortgaged by the borrower to
the bank. The property could not be identified as details of boundaries were not
mentioned in the sale deed. The revenue records did not indicate the ownership of
the property of the mortgagor. In the title clearance report, the advocate had given
opinion based on Xerox copies of title deeds. The certificate of inspection &
valuation of the property, given by the valuer was also found to be false. It was
later confirmed from a second legal opinion that the title deeds were not genuine
thus invalidating the mortgage created in favour of the bank.
.
14
(1) M/s. Hi Grade Shoes

(2) M/s. Hi Design Shoes
Address
Partners
Address
Partners
Address
Factory S.F. No. 33/3, NH-46, MC Road, Jameen Kulithigai, Vadapudupet, Ambur,
Vellore
1. SHRI K S SIVAKUMAR S/o V. Shanmugam,
49/24 Gudiyattam Road, Pallikonda, Vellore
2. SHRI S GANDHI B/o SHRI K S SIVAKUMAR
3. SMT S KANCHANA W/o SHRI K S SIVAKUMAR
49/24 Gudiyattam Road, Pallikonda, Vellore
M/s. Hi Grade Shoes & M/s. Hi Design Shoes were enjoying CC and TL limits from a bank which
were increased from time to time on their request. Both the firms were also enjoying LC facilities
which devolved on the bank upon non-payment by them and had to be debited to the existing CC
limits with the bank. On January 02 2012, Shri K S Sivakumar Managing Partner informed the bank
that the firm had incurred an estimated loss of Rs. 18.00 crore due to wastage of raw materials and
bad debts etc. supported by an unaudited balance sheet. The bank then filed a DRT suit and
obtained an injunction restraining the promoter from removing/alienating the movables and
immovable in the factory premises. While the recovery process was on another Bangalore based
leather/shoe exports company put its claim on the entire stock lying with both the firms as well as a
part of the machinery there at and also claimed that they were operating the manufacturing facility
of both the firms on a job work basis. This fact was not reported to the bank by the promoter and
the limits were used as if the firm units were being operated on their own turnover, which
established that statements of stocks and receivables being furnished by the borrower were false
and fabricated.
Thus the bank was defrauded to the tune of Rs.240 mn
15
M/s K P Packaging Ltd.

Address
Directors
Plot No. 32, Lane No. 13, Kamathipura, Opposite Vira Sadan,
Nagpada, Mumbai 400 008.
1) Shri Madhukant K Vira
2) Shri Ketan M Vira
Address
602, Ashish Tirupati Apartments, Bhulabhai Desai Marg, Mumbai 400 008.
Directors
3) Shri Ritesh Pravin Gala
Address
109/B, Kashibhai Cottage, Worli Village, Opposite Kamat Stores, B D

Road, Mumbai 400 013.
Nature of Irregularities 1
On May 28, 2012 an Urban Co-op Bank discounted LC amounting to Rs. 25 mn purportedly issued
by a schedule Commercial bank, Khar branch on receipt of their confirmation. On due date the
payment was not made by the issuing bank on the pretext of the LC appears to have not been
issued by their Khar branch.
Thus the bank was defrauded to the tune of Rs.25 .00 mn.
Nature of Irregularities 2
A bank had sanctioned two Inland Letter of Credit (ILCs) limits of Rs. 39.93 mn each to M/s K P
Packaging Ltd. against three immovable properties valued at Rs. 88.00 mn. Since the payment was
not received, the bank had carried out investigations in the matter and the officials of the bank
visited LC issuing bank for reconfirming the genuineness of the signatures of the officials on the LC
who informed that they had not signed the LC verification letter and that their branch was not
authorised to confirm or verify the LC. Then, officials of the bank visited branch which was
authorised to verify the LC who informed that signatures on the LC were not in their system and
confirmed that they had not issued LCs from their branch. Further, the branch which purportedly
issued LC had also denied having issued those LCs vide their letter dated October 19, 2012. The
borrower had also availed bill discounting facility of Rs. 25.00 mn from another Urban Co-op bank
but on due date, the bank which had allegedly issued the LC denied having issued any such LC
which established that the LC presented in two cases were also fake and fabricated.
Thus, the banks were defrauded to the tune of Rs. 104.87 mn
10
16
M/s. Luxmi Overseas

Address
Shop No. 5, New Grain Market Indri, Karnal District Haryana.
Shri. Mukesh Kumar House No. 62, Ward No. 2 Indri, Haryana 132 041.
In November 2005, a bank had sanctioned an Over Draft (OD) facility to
M/s. Luxmi Overseas, Karnal, Haryana under Agri Credit Line (ACL) against four
properties owned by the borrower, Shri. Mukesh Kumar. The borrower serviced interest
regularly after which certain irregularities in repayment were observed. Later, in March
2007 the account was classified as a Non Performing Asset (NPA).Despite regular follow
up by the bank, there was no response from the borrower, the bank had served a Loan
Recall Notice (LRN) in September 2007 and sent a notice under SARFAESI Act on
January 4, 2008.Subsequently, the bank moved an application to the Tehsildar in respect
of the property, as most part of the property was agricultural land with no clear
demarcations, which hampered the process of recovery. There were small shops
constructed on a part of the vacant land measuring around 693 square feet. A proposal
was made to the revenue officials to declare the part of land as commercial land wherein
shops were constructed. The proposal was accepted by the revenue officials in June
2011 following which the bank published a sale cum auction notice for their possessed
property. To this advertisement, another bank put a stay on the auction as the same
property was mortgaged to that bank by the borrower while availing a facility in
September 2007. Market feedback indicated that the same land was also sold to a third
party before availing the facility from the bank. Investigations confirmed that the borrower
had submitted fabricated land documents to the bank claiming to be the sole owner of the
properties mortgaged. The jamabandhi was forged and copies of mutation and
jamabandhi did not match with the records of the Revenue Record Office.
Thus, the bank was defrauded to the tune of Rs. 47.80 mn
Proprietor
17
M/s. Swastik Enterprises

Address
Proprietor
Address
47, IV Floor, Rishikesh Apartment 75/38 G N Chetty Street T Nagar,

Chennai - 600 017
Shri. Samraj S/o. Shri. Shreyan Kumar (Srayankumar)
Flat No. 1, D-204, Arunodaya Apartment Choolimedu High Road
Choolimedu, Chennai
A bank had taken over the FB limits of the borrowers at of Rs. 90.00 mn from another
bank by sanctioning FB Limits totaling Rs. 115.00 mn (OCC limit of Rs. 80.00 mn + FDB
of Rs. 30.00 mn+ TL limit of Rs. 3.50 mn) in March 2010.Following the account turning
NPA as on March 31, 2011, an investigation was carried out which revealed that three (3)
FBE's discounted amounting to Rs.29.74 mn were delinked due to non-realization of
export bills. The exports were consigned in favour of M/s KPNR Steels and Metals,
address of which was found to be non-existent. Heavy cash withdrawals were made in the
OCC account and the account stood overdrawn on several occasions. Transactions were
not routed through the account. Investigation further revealed that two properties
stipulated as collateral security were disposed off prior to take over of limits from other
bank and two properties were standing in the name of the father of the proprietor who
was the guarantor to the limits had expired, before disbursement of the loan. The
borrower had concealed the fact that the properties standing in the name of his father had
already been disposed off.
Thus, the bank was defrauded to the tune of Rs.114.08 mn
11
18
M/s P C Enterprises
Proprietor
Shri Prashant Kumar Singh
Addresses
34, Balaji Nagar, Chotta Govind Pur, Jamshedpur 831015
A combined CC(H) & CC(Book Debt) limit of Rs.17.5 mn was sanctioned to the
borrower firm by a bank for trading in iron ore & fines against the EM of 4 IPs
(Open Land) situated at Mouza Asabani, Thana 325, PS - Chandil, Distt.
Sareikela, Kharswan, having market value of Rs. 18.815 mn. The conduct of
account was not satisfactory since inception and the borrower stopped operations
in the account since July 19, .2011. However, as a result of continuous follow up,
borrower submitted a cheque for Rs. 1.268 mn, drawn on M/s RK Enterprises
which was dishonored due to insufficiency of funds. The bank had issued a legal
notice to the borrower in this regard. The party submitted list of debtors and stock
statement. It was observed that borrower was avoiding verification of stocks lying
open at distant locations (Haldia & Jamda in West Bengal), as there was no
proper identity of stocks. Party did not cooperate indicating non availability of
stocks and misutilization of funds. During follow up with debtors, one of the
debtors M/s Ambo Exports (P) Ltd. Against whom a debt of Rs. 4.28 mn was
shown, informed that full and final payment had been made to M/s PC Enterprises
upto March 31,2011. Thus, the list of debtors submitted by the borrower proved to
be fake and fabricated one. It was also gathered that the borrower & his brother
Pankaj Kumar were availing credit facilities in the name of M/s PC Enterprises
from another bank depositing the same title deeds. Thus the bank was defrauded
to the tune of Rs.17.50 mn.
19
M/s Pushap Agro Tech Pvt. Ltd.

Address
Hayat Nagar, Hardochhani Road Gurdaspur Punjab 143 521.
Directors
1. Shri. Rachit Bansal S/o. Kamal Bansal
Address
443, Sangal Pura Road Gurdaspur.
Directors
2. Shri. Kamal Bansal S/o. Shri. Parkash Chand
Address
House no. 247, Ward No. 9 Sangal Pura Road Gurdaspur.
M/s. Pushap Agro Tech Pvt. Ltd dealing in rice shelling activities was sanctioned
various credit facilities on April 10, 2008 with total exposure of Rs. 45.10 mn by a
bank which were enhanced to Rs. 89.00 mn. The above facilities were further
enhanced on November 24, 2009 to Rs. 128.50 mn.
It was observed during investigation that the borrower firm had illegally disposed
off the whole stock hypothecated with bank and the borrowers were absconding.
An FIR had also been lodged by PUNSUP (Punjab State Civil Supplies Corp. Ltd)
on August 23, 2011 against the directors/partners of the firm for embezzlement of
their (PUNSUP) paddy/rice stock worth Rs.148.60 mn which PUNSUP had given
to the firm for shelling. The PUNSUP had also written letter dated January 02,
2012 to the bank regarding their claim on the stock lying with the firm.
12
20
M/s Riya Trading

Proprietor
Address 1
Address 2
Shri Bimal Kundu

Shyam Shree Market, 48, Sir Hariram Goneka Street, Kolkata 700 007
27/B, South End Park, Kolkata 700 0029.
A bank had sanctioned a cash credit limit of Rs..9.5 mn to M/s. Riya Trading
(Prop. Shri Bimal Kundu), a firm engaged in trading of garments. Collateral
security of landed property situated at Plot No.27 RS No.151 worth Rs..12.471 mn
belonging to the proprietor and guarantee of Smt. Krishna Kundu, wife of the
proprietor was stipulated. Since the turnover in the account was very poor, the
account was categorized as NPA on April 16, .2011 and notice under SARFAESI
Act was issued on October 10, 2011. When branch initiated steps for sale of the
property, it came to the notice of the branch that the property was mortgaged to
two other banks towards credit facilities availed from them.
21
M/s Sarvottam Overseas Pvt. Ltd.
Directors
C-184, III Floor, Rastogi Chamber Madhuban, Vikas Marg, Delhi 110 096.
i. Shri Varun Sahgal S/o. Shri. Sarvottam Mukesh Sahgal
Flat No. 660, Sector-29 NOIDA, UP 201 301
ii. Shri. Sarvottam Mukesh Sahgal
Address
C-184, III Floor, Rastogi Chamber Madhban, Vikas Marg, Delhi - 110 096
Directors
iii. Shri R Kannan
Address
4- Solai Iyer Street, International Trade Tower Nehru Place, New Delhi
Registered
Office
Directors
Address
Guarantor Smt. Usha Johri

Address
C1/125 , Janakpuri, New Delhi.
Associate (1) M/s. Jemini Exports
concerns
Address
Directors
1. Shri. Sarvottam Mukesh Sahgal

2. Shri Varun Sahgal
(2) M/s. Sarvottam Metals Pvt. Ltd.
Associate
concerns
Address
Directors
1. Shri Varun Sahgal

Flat No. 660, Sector-29 NOIDA, UP 201 301.
2. Shri. Raj Kumar
246-1, Ganesh Avenue 8th Cross Street. Porur, Chennai 6000 116.
3. Shri. Pattabhiraman
34, Sri Chakra Nagar Dr. Murthy Road Kumbakonam 612 001.
Address
Directors
Address
Directors
Address
13
The company was sanctioned working capital limits of Rs. 45.00 mn on January 22, 2008
by a bank. The account was reviewed with enhancement in the limit from existing Rs
45.00 mn to Aggregate limit of Rs 80.00 mn in July 2009.
During the enhancement review, the existing collateral securities were substituted by the
new free hold property at in the name of new guarantor Smt. Usha Johri valued at Rs.
87.00 mn and the mortgage was created on August 04, 2009.
In March 2011, the police advised the bank that a complaint by M/s Dev Kripa Developers
Pvt. Ltd, Janakpuri, New -Delhi, was registered under Case No. FIR-242/10 u/s 420/34 of
IPC against Dr. Yashi Johri and Smt. Usha Johri from whom the developers purchased
the property in the year 2008 and whereas said property was mortgaged to bank in the
year 2009. It was reported that Smt. Usha Johri and her son Shri. Yash Johari were
arrested by the police.
The police also informed the bank that a case was filed before DRT under SA 153 of
2010 against Smt. Usha Johri for Rs. 20.00 mn by another bank.
Meanwhile, the company inducted one Shri. R. Kannan as director / guarantor, who was
reportedly the owner of an open plot of land in Tamil Nadu.
Following the account turning NPA on March 31, 2011 due to devolvement of LCs and
overdue EPC, the bank sought fresh report from another panel advocate Shri who pointed
out in the report dated March 31, 2011 that original conveyance deed was not presented
for registration on July 13, 1993 (the date mentioned on the conveyance deed). He further
informed that there were many requests from the advocates (during period 2009-2011)
for certified copy of conveyance deed which were not provided since no such document
existed with the Sub-Registrar. The investigation by the bank revealed that the address of
the guarantor Shri. R Kannan, was fake as the street name mentioned in the address i.e.
Solai Iyer Street did not exist in Chrompet Area of Chennai. Copies of the ration card of
Shri. Kannan and Election Card which were submitted to the bank were forged and
fabricated. The new address furnished by Shri. Kannan was also found to be wrong. As
regards the status of immovable property at Pallavpuram, Tamil Nadu, only a part of said
property belonged to Shri. Radhakrishnan Iyer (Father of Shri. Kannan) and remaining
part of the property belonged to other persons.
22
M/s. Sri Lakshmi Ganapathi Modern Rice Mill (SLGMRM)

Address
Partners
Address
Associate
concern
16/114, Denduluru Mandal West Godavari, Andhra Pradesh.

1. Shri. Budharaju Venu Gopala Krishnam Raju (MD)
2. Smt. B Padmavathi
3. Shri. Ravindra Verma
4. Smt. B Radha
Door No:24-26-7B, Yerrapragada Street Ashok Nagar, Eluru, West
Godavari Dist.
1) M/s. Naga Hanuman Agro Oils Pvt. Ltd.
Director
7B/15/45, Maruthi Nilayam, Vuppuvari Veedhi, Eluru - 534 001.

Shri. BVG Krishnam Raju
Address
1/92, Pothunuru PO, Denduluru Mandal West Godavari, Andhra Pradesh.
Address
14
A bank had sanctioned an OCC limit of Rs. 25.0 mn and two term loans of Rs. 16.50 mn and two
STPCC limit of Rs. 4.90 mn to Shri. B.V.G.Krishna Raju, Managing Partner of the above firm and
Rs. 16.00 mn to Shri. Ravidra Verma (son of Shri. B.V.G.Krishna Raju). The activity of rice mill
came to a halt during last quarter of 2010 and the account turned NPA in March 2011.
During the course of obtaining ECs for the properties in March 2011, the bank came to know the
alienation of the three (3) EM properties prior to creation of mortgage with the bank. 2.08 cents of
land valued at Rs. 1.04 mn and 1.43 cents valued at Rs. 0.7.2 mn belonging to Sri BVG. Krishna
Raju, alienated in favour of M/s. Naga Hanuman Solvent Oils Pvt. Ltd. Further, 5.00 cents (out of
5.82 cents) of land valued at Rs. 3.00 mn belonging to Shri Raju was also alienated to Shri Sankar
Gunin.
Subsequently, while taking recovery action, the bank detected alienation of three (3) more
properties prior to creation of mortgage and one more of property of 70 acres of fish tank could not
be attached due to statutory bar under Kolleru Wild Life Protection Act.
23
M/s Victoria Agro Food Processing Pvt. Ltd.

Address
Nilangekar Bungalow, LIC Colony Dyaneshwar Road Latur 413 512.
Directors
1. Shri. Ashish Marwaha

2. Smt. Prajakta Marwaha
A-295, Sarita Vihar New Delhi
3. Shri. Mahendra Jajoo
4. Shri. Varun Jajoo
W-10/14, Western Avenue Sainik Farm New Delhi.
Address
Directors
Address
A bank had sanctioned a term loan of Rs.167.70 mn and Cash Credit limit of Rs.32.30 mn on June
20, 2009 to the borrower under consortium with another bank for setting up grain based distillery for
manufacturing of extra neutral alcohol for rectified spirit/absolute alcohol. The account became
irregular due to nonpayment of installments and interest and the account was classified as NPA in
July 2011. There was no stock at the unit and only maintenance work was being carried out at the
time of inspection on August 02, 2011. When the company failed to regularize the account, action
was initiated under SARFAESIA and demand notice was issued on September 12, 2011. The
possession notice was issued on December 30, 2011, but the borrower refused to hand over the
possession of secured assets. On February 02, 2012, an application was filed before the District
Magistrate seeking assistance in taking possession of the secured assets. The hearing was
adjourned from time to time on the request of the borrower on the pretext of settlement and the
matter was finally listed for hearing on July 07, 2012. On the date of hearing, advocate for the
borrower submitted a copy of the certified copy dated July 03, 2012 obtained from the SubRegistrar in respect of the mortgage deed dated July 30, 2009 in favour of the bank and claimed
that the property in question was not mortgaged to the bank.
At the time of availment of credit facilities, the simple mortgage was executed on July 30, 2009
since the computerization was under process at Sub-Registrar's Office who, then, provided certified
copy stating that original would be given after computerization. The officials of the bank visited the
Sub Registrar's Office and scrutinized the mortgage deed at the Sub Registrar's Office and found
anomalies in some of the pages in number, rubber stamp and seal of the Sub-Registrar.
Subsequently, the branch obtained latest 7/12 extracts and property extracts from revenue
authorities and Municipal Corporation on November 22, 2012 and compared with the 7/12 extracts
and property card submitted by the borrower to the bank. It was, then, found that there was no
noting of charges in favour of the bank in the above extracts and in the property card, charges of a
Co-operative Bank were mentioned. Thus, the borrower had tampered with the original mortgage
deed by replacing the relevant pages and inserted the details of another property having lesser
value in the records of Sub-Registrar's office and also submitted fabricated 7/12 and property
extracts and cheated the bank.
15
24
M/s Subramanya Enterprises

Shri K N B Sharma
Proprietor
Address
24, 3rd Cross, Vidyaranyapura Bangalore-560 092
A bank had sanctioned various credit facilities to the borrower in the year 2011
aggregating to an amount of Rs. 5.02 mn. These facilities were collaterally
secured by EM of a property owned by one Smt. Sumathi. The accounts turned
irregular within a year and bank served a notice under SARFAESI Act 2002 to
Smt. Sumathi for recovery of dues of the bank. In response to this notice the bank
received letter from Smt. Sumathi claiming to be the owner of the property
mortgaged to the bank and that she had neither stood as guarantor nor
mortgaged any property to the bank. She also informed the bank that the said
property was sold by her on September 12, 2011. The present whereabouts of
both the borrower and the person who had impersonated as Smt. Sumathi are not
known.
25
M/s SRM Tex

Director / Proprietor details
Address
Shri S. Ramanathan
112C, SABARI Garden, Annupparalayam, Pudur 641 652
In May, the borrower was sanctioned a term loan of Rs. 2.46 mn by the bank for
construction of factory building and also Packing Credit in Foreign Currency
amounting to Rs.. 4.00 mn and term loan for import / purchase of machineries, DG
sets for Rs. 3.00 mn. The limits were collaterally secured by immovable properties
comprising of land of 34.135 cents with RCC factory building in the name of the
proprietor valued at Rs.11.00 mn.
The account was classified as NPA on March 31, 2011. During recovery action
under SARFAESI when the bank took physical possession of the property on
March 09, 2012 it came to light that the machineries were removed by the
borrower without the knowledge of the bank.
Thus the bank was defrauded by the borrower to the tune of Rs. 10.67 mn.
26
M/s. DVP Exim Pvt. Ltd.

Address
Directors
Address
Directors
Address
Associate
concern
Address
21, FD Block, DDA Market, Pitampura New Delhi 110 088.

1. Shri. Ramesh Kumar
B-747, Shushat Loak 1 Gurgaon, Haryana
2. Shri. Deepak Pahwa
QD 68, Pitampura, New Delhi 110 088.
M/s. RGR Impex Pvt. Ltd.
E-513, Gupta Plaza, III Floor, Sector 7
Dwaraka New Delhi- 110 075.
16
Near Ramphal Chowk
Directors
Address
Directors
Address
Directors
i. Shri. Gurkirat Singh

Village Khaper Kheri, PO Chhehera District Amritsar Punjab.
ii. Shri. Ramesh Kumar
B-747, Shushat Loak 1 Gurgaon, Haryana
iii. Shri. Deepak Pahwa
QD 68, Pitampura, New Delhi 110 088.
Address
A bank had sanctioned a term loan of Rs.1.20 million, PC limit of Rs. 45.00 million
FBPF/UBDF of Rs. 45.00 million and Sub-Limit (LCI /LCF) of Rs. 10.00 million to
M/s.DVP Exim Pvt. Ltd. The bank had also sanctioned Cash Credit facility of
Rs.80.00 million (with sub-limits under LC/BC/LG) and Bill discounting facility to
M/s. RGR Impex Pvt. Ltd., an associate of M/s. DVP Exim Pvt. Ltd. on October 08,
2011.There were 15 export bills overdue amounting to Rs.209.10 million, a major
portion of which related to Bills under LCs opened by a foreign bank on behalf of
M/s. Finance Asia Ltd. wherein the LCs were advised through an Indian bank.
Two bills for Rs.25.77 million were due for payment since April 2012.It was
observed during preliminary investigation that the LC opening bank was not
responding to various reminders sent by the bank through the LC advising bank.
On August 31, 2012, the LC opening bank replied to LC advising bank that their
party was not forthcoming for payment on the due date as per acceptance given
to the bank. The bank pointed out to the LC opening bank that they were liable for
making payment of the L/C amount on the due date even if the applicant was not
making payment. Further, seven more bills drawn under LCs, which were opened
by the same bank on behalf of Finance Asia Ltd., were also outstanding to the
extent of Rs.114.23 million where the due dates were over and the bills were
crystallized. The bank conducted godown inspection on September 06, 2012 and
no stocks were found. However, the two directors of the company promised to
provide funds by September 08, 2012, they did not turn up and subsequent
personal meetings with one of the directors by branch officials did not yield the
desired result. The account of the associate viz. M/s.RGR Impex Pvt. Ltd was also
irregular with outstanding exposure of Rs.99.76 million including Rs.17.20 million
overdue since May21, 2012. The drawees of the bills were Finance Asia Ltd. and
the LC was issued by the same foreign bank (as in the case of M/s.DVP Exim Pvt.
Ltd.).It was observed that the borrowers had filed a complaint with the police
against some overseas suppliers for non-supply of goods for which advance
payment was made. The bank received a letter dated June 14, 2012 from the
police asking the branch to provide details of the complaint made by M/s.RGR
Impex Pvt. Ltd against the overseas supplier. The branch also received a letter
dated May 13, 2012 from Office of the Commissioner of Customs(Preventive)
asking for information in respect of M/s.RGR Impex as they filed a case against
the overseas supplier since they made advance payment for import of electronic
goods, but the overseas suppliers failed to supply the goods.
17
27
M/s D.P.Mundhara & Co

Director
Above Kubera Hotel Station Road, Vasai West, Thane 401 303.
Shri Gopikishan C.Mundhara
Address
Flat No.403, Vrindavan Town CHSL Evershine City, Vasai East, Thane.
Address
M/s Maheshwari Saroj Steels

Associate Concern Director details
Address
Flat No.402, fourth floor, A wing, Dattatray Tower Phase II, C.H.S.L.
Dewan Kuldeep Singh Nagar, Evershine City, Vasai.
A bank sanctioned Cash Credit limit of Rs. 4.90mn on July 13, 2009 to the borrower,
engaged in trading of Iron and Steel and obtained collateral security of shop and flat
no.401 in the building of Shree Chintamani Co-Op Housing Society Ltd, Dombivali (West)
valued Rs. 5.60 mn. Equitable mortgage of the properties was created on August 11,
.2009.Cash Credit limit was enhanced to Rs. 9.00 mn while reviewing the account on July
08, .2010 after obtaining another flat no.203 in the same Chintamani Society valuing Rs..
3.69 mn (Total value of properties Rs..9.29 mn). Again on September 16, 2011, limit was
enhanced from Rs..9.00 mn to Rs.14.50 mn and taken additional security of flat no.403,
Vrindavan Tower at Vasai (east) valued Rs.3.00 mn (Total value of our properties Rs.
12.092 mn) Extension of equitable mortgage has been created on July16, 2010 and
September 27, 2011. The operations in the account were satisfactory till December 2011.Subsequently on March 02, 2012, Income Tax attachment order was received in the
account and thereafter there were no operations in the account. The borrower failed to
regularise the account despite follow up by the branch officials. The account was then
classified as NPA on September 30, 2012 due to overdues in the account. Notice under
SARFAESI was issued to the borrower on October 08, .2012.During the inspection of the
properties by the branch officials, it was found that the three mortgaged properties in
Chintamani Society were occupied by someone other than the borrower and the
Secretary informed that the borrower is not the member of the society. Subsequently the
branch referred the documents for verification to another panel advocate M/s Interjuris for
ascertaining the genuineness of the title deeds. The advocate in their opinion report
stated that out of the four properties, title deeds of three properties(I shop and 2 flats) in
Chintamani Society, Dombivali (West) had anomalies and reported that the title deeds
were sham and fictitious. When the officials contacted the borrower, he admitted about
the forged properties. Thus the borrower had cheated the bank by submitting fabricated
title deeds for mortgage to the tune of Rs. 14.50 mn.
28
M/s Need Dairy Farms Pvt Ltd

Office
Factory
Directors
79/2, Latouch Road, Kanpur (UP)

Arazi No.27/M, Khata No.361, Gram Baghara, Tech & Dist: Kanpur Nagar
1. Shri Rafat Bashir

2. Shri Arshad Bashir
Address
231D, Defence Colony, Jajmau, Kanpur
Associate Concern Director / Proprietor details
Address
Address
1) M/s Creazy Wear Inc (Director Shri Rafat Bashir)

3rd Floor, Hamraz Complex, Cooper Ganj, Kanpur (UP)
2) M/s Hoesens Export (Director Shri Arshad Bashir)
231D, Defence Colony, Jajmau, Kanpur
18
In April 2010, a bank had granted agriculture term loan for Rs. 13.2 mn for the purpose of
construction of building on the existing land in the name of Smt. Sufia Arshad w/o the
borrower, .purchase of machinery/equipment at an estimated cost of Rs..3.6 mn and
purchase of 200 buffaloes at an estimated cost of Rs..9.0 mn. Agriculture Cash Credit limits
(AGCC) for Rs.1.0 mn was also sanctioned for the purpose of working capital requirement.
The borrower company subsequently informed the bank that as miscreants restricted
movement of buffaloes in the area, they had shifted all the buffaloes to 11 different places.
Subsequently the company also shifted the machinery/equipments without notifying the
bank. Moreover, during investigation, one of the directors of the company failed to show
neither the assets supposed to have been shifted to different locations nor committed for
repayment of the loan.
Thus the borrower company had cheated / misappropriated the amount by defrauding the
bank to the tune of Rs. 13.089 mn.
29
Shri Sardar Harpal Ahuja

Address
M-65, Guru Harkishan Nagar, Paschim Vihar, New Delhi 110084
The liability of Rs. 8.74 mn under the home loan of the borrower was taken over by the
bank in August 2006 from another bank besides sanctioning a topup loan of Rs. 4.00 mn.
The security for the loans was a two storeyed residential building. The borrowers had a
valid and marketable title to the property. On account of default, the accounts were
classified as NPA in June 2009 and recovery action was initiated under SARFAESI Act.
While taking symbolic possession of the property, it was learnt that the property was set
to be auctioned by another bank and another bank raised objection on the ground that the
borrower had created a valid equitable mortgage of the property in favour of that bank.
Further, it was found that the borrower had sold the first floor of the property and it
became evident that the title deed deposited by the borrower with the bank was forged
and fabricated. He in fact was not even the actual owner of the property. Thus the
borrower had defrauded the bank to the tune of Rs. 18.4 mn.
30
Sri Vasavi Cold Storage

Address
Directors
Address
Pusapadu Adda Road, Inkollu Mandal, Prakasam District, Andhra Pradesh.

1. Shri Gurram Brahmanandam
2. Shri Gurram Venkata Rajyam
3. Shri Gurram Venkata Naga Siva Prasad
4. Shri Gurram Sujatha
Idupulapadu, Inkollu Mandal, Prakasam District, Andhra Pradesh.
A bank branch had extended 421 pledge loan accounts which were outstanding with a
balance of Rs..94.6 mn as on September 21, 2012. All these loans were arranged against
stock of black gram, maize, red chillies and bengal gram preserved in five different cold
storages nearer to the said branch .Following news of frauds in the stock held by cold
storages in respect of pledge loans in another branch of the same bank, during the month
of October 2012, Inspecting Officials of the bank conducted verification of stock held as
security for the said pledge loans and it was observed that no stock was available in case
of 66 Pledge Loan Accounts.
Thus the borrower has committed breach of trust, played fraud and intentionally cheated
the bank to the tune of Rs.24.47 mn.
19
31
M/s Western Garments

Masjid Para Road, Santoshpur, P.O.Mahesh Tala, Kolkata 700 141
Shri Jahangir Mondal
Address
Address
Memanpur Vivekanandapaaly, Maheshtala, Kolkata 700 139
On March 2010, a bank had sanctioned Cash Credit limit of Rs..1.00 mn and Bank
Guarantee limit of Rs. 4.00 mn to a firm engaged in manufacturing of readymade
garments March 2010. Later in November 2010, the cash credit limit was
enhanced to Rs..7.00 mn by converting the BG limit as fund based which was
enhanced to Rs. 12.50 mn in December 2011. Collateral security of 4 landed
properties in the names of the borrowers valued Rs...11.20 mn and plant &
machinery valued Rs..1.412 mn was stipulated besides primary security of
hypothecation of stock of cloths, readymade garments, stores, spares and bookdebts. Legal opinion furnished by the panel advocate before sanction of limits
stated that the owners of the properties had clear and marketable title and can
create a valid mortgage in favor of the bank. The entire limit of Rs..12.50 mn was
availed by the borrower firm and funds were remitted to another firm, whose
account was maintained at another bank, for which also the proprietor was same.
During investigation, after the account turned NPA in June 2012, it was observed
that financial statements furnished by the firm at the time of sanction /
enhancement of limits were fabricated as the Chartered Accountants, who are
said to have certified the financial statements stated that they had never certified
the financial statements of the firm.
Thus, the borrower siphoned-off the funds and cheated the bank to the tune of
Rs. 16.22 mn by diverting the funds.
32
M/s Karishma Enterprises

HO-21 &22, Alankarplaza, 2nd Floor, A-10, Centralspine,
Vidyadharnagar, Jaipur 302021.
Proprietor Shri Ajay Kumar Luharwula
Address
9F-2, G683, V.K.I Area, Jaipur,
Address
9/12, Lal Bazar Street, Mercantile Building, Block E, Kolkatta
Address
In September 2007, a bank sanctioned cash credit limit of Rs.15.00 mn to the borrower
for the trading in metal scrap, bottles and corrugated boxes. Since beginning the
operation & conduct of the account was not satisfactory and account turned NPA in
January 2010 The bank initiated action under SARFAESI Act and it transpired that the
proprietor had sold the entire property to different persons. The son of the proprietor, who
got the title of the property by way of gift deed executed by his father had mortgaged the
property to the bank. Advocate report obtained subsequently revealed that mortgaged
property was already sold to different persons by the son of proprietor before creation of
mortgage. This was possible only because of the branch failed to collect the chain of
documents subsequent to the creation of gift deed. Thus the bank was defrauded by the
borrower to the tune of Rs.14.4 mn.
20
33
M/s Laxmi Mill

Plot No. 1130, Nehru Bagh, Magarwara, Unnao, Uttar Pradesh.
Proprietor Smt. Beena Tiwari
Address
Flat No. 303, Plot No. 670, Vinobha Nagar, Kanpur Uttar Pradesh.
Address
A bank had sanctioned a term loan of Rs. 2.40 mn and Cash Credit limit of Rs.
4.05 mn on May 2, 2011 to the firm for installation of edible oil mill. The firm was
given term loan facility for purchase of machinery and CC limit for working capital
requirements. Funds disbursed under term loan were not utilized for the purchase
of plant and machinery. The quotations, bills and advance receipts pertaining to
the machinery were found fake. These documents were issued by M/s Vinayak
Enterprises, 2/66, Sector H, LDA Colony, Lucknow.
34
M/s Mahalaxmi Syndicate

RZ-87, A Block, Gali No. 2, Dabri Extension, New Delhi 110045.
Proprietor Shri Ram Saran
Address
F-25, Mahavir Enclave, Part III, Gali No. 80, Uttam Nagar, Delhi 59.
Address
A bank had sanctioned a CC limit of Rs. 10.00 mn to the firm in the year 2008.
The account turned NPA and action under SARFAESI Act was initiated and a suit
was filed for recovery in DRT. A notice appeared in the Times of India on July 9,
2012 wherein the property mortgaged to the bank was put to auction by another
bank in respect of finance granted by them to M/s Nikita Exim. Enquiries with the
other bank revealed that they had filed a case with CBI and one of the guarantors
was under detention. This is a case of defrauding the bank by creating multiple
title deeds of the property and availing limits from different institutions.
35
M/s Rohini Mobiles

Proprietor Shri Sanjay Kumar Sah
Address
Tower Chowk, Deoghar, Jharkhand.
A bank had sanctioned a Cash Credit limit of Rs. 6.00 mn to the borrower on
December 7, 2009. This was a takeover loan from another bank and the loan
facility was secured by EM of three properties owned by the guarantors. When the
account became irregular and investigations were done, it was revealed that one
of the mortgaged properties had been sold by the mortgager prior to the creation
of mortgage with the bank.
21
36
1) Smt. Swati Shukla

No. 402, Coronation Apartment, Bijwa Estate, 28, Park Road,
Lucknow 226016.
2) Shri Rahul Mehrotra
Address
Address
House No. 5/265, Vikram Khand, Gomti Nagar, Lucknow, Uttar Pradesh.
3) Shri Vishal Srivatava

House No. 89, Jagriti Vihar, Kalyanpur, Lucknow, Uttar Pradesh.
4) Shri Atul Shukla
Address
Address
133, Shekhupura Aliganj, Lucknow, Uttar Pradesh.
A bank had sanctioned Suvidha Loan of Rs. 2.50 mn to Smt. Swati Shukla on November
4, 2009 against EM of two properties standing in the name of Shri Ashish Shukla,
husband of the borrower (since deceased). Subsequently bank sanctioned three credit
facilities to different borrowers (with no direct relationship to the first borrower / guarantor)
against extension of mortgage of the above properties. At the time of taking second legal
opinion, search at the SRO revealed that the documents submitted by the borrower /
guarantor were fabricated and no property existed under these registration numbers.
37
M/s Vaishali Transport Limited

Proprietor Smt. Renu Jaiswal
Address
G-68, Ground Floor, Lajpat Nagar II, Delhi 110 024.
A bank had sanctioned six vehicle loans amounting to Rs. 6.39 mn to the borrower firm
on August 23, 2010. When the account became delinquent and investigations were done,
it came to light that the borrower had submitted fabricated IT returns for the year 2009-10
for availing the loan. The customer was not traceable at the address furnished while
availing the loan.
38
M/s Yash Distributors

Proprietor Shri Pritam Hore
176, Sankalp Bungalow Shikshak Colony, Bhekari Nagar Farsungi, Pune
Address
A bank had sanctioned various credit facilities in the year 2009 amounting to Rs. 9.50 mn
to the firm which was a wholesale distributor of ITC products in Pune area. These
facilities were collaterally secured by mortgage of eight properties owned by the proprietor
of the firm. When the account became irregular, bank took action under SARFAESI Act.
When second legal opinion was obtained in respect of the properties mortgaged to the
bank by the borrower, it was found that documents relating to three properties were not
genuine and the borrower had concealed prior charges in respect of some other
properties.
22
39
1.Ms. Kathija Thaseen

2.Mohammed Aneesuddin
Address
#6-1-67/2, Ground Floor, Sangam Building, Lakadi Ka Pool,

Saifabad, Hyderabad-560 004
Ms.Kathija Thaseen was sanctioned three loans and Mohammed Aneesuddin was sanctioned one
loan against equitable mortgage of four different properties (flats) in the same building amounting to
Rs.15.82 mn during the period of 2006 to 2008 by a foreign bank. The loan accounts were declared
NPAs during April & May 2011 and when bank initiated action under SARFAESI, it came to know
that the customers had executed sale cum- Irrevocable General Power of Attorney (GPA) with four
other parties in January 2009 and the borrower had received part sale consideration and the
balance was agreed to be paid to the bank by other parties towards the closure of the loans with the
bank. However, neither the customer nor the vendees of the agreement had approached the bank
to clear the dues nor intimated about the agreement in any manner. Auction was slated to be
conducted on June 6, 2012 but the same could not materialize as the customer obtained a stay
from High Court.
Thus the bank was defrauded to the tune of Rs.18.64 mn.
40
M/s Super Fibres Ltd.

Address
Regd. Office
Address
Regd. Office
Address
Directors
Address
Address
Plot No. 57, Industrial Area, NIT, Faridabad.

K-19 A, 2nd floor, Lajpat Nagar-II, New-Delhi 110024.
1) M/s. Rexor India Ltd (Associate concern)
Unit No. 99 and 107, Sector 24, Faridabad
Bldg. No. 16-C, 1st floor, Flat No.1 A-B, Brij Dham, Housing Complex,
637, Dakshin Dyori Road, Kolkata 700048
2) M/s. Freewheel India Ltd (Associate concern)
Plot No. 57, Industrial Area, NIT, Faridabad
1.Shri Mal Chand Somani s/o Sh. S.M. Somani
2.Shri Sunil Somani s/o Sh. Mal Chand Somani
House No. 1120, Sector 15, Faridabad-121007
3.Shri Radhe Shyam Lakhotia s/o Shri Sita Ram
155, Lenin Sarani, P.S.Bow Bazar, Kolkata 700013, WB
M/s Super Fibres Ltd. and its associated concern M/s. Rexor India Ltd. were enjoying
various credit facilities from a public sector bank and one state finance corporation on the
security of equitable mortgage of land and building as well as charge on plant, machinery
and other fixed assets since September 2004. The accounts of the company became
irregular and were declared as NPA in September 2009. During the course of recovery,
the bank came to know of the exclusive charge created in favour of the state finance
corporation on the said collateralized property. A fresh search report confirmed that the
company had fraudulently created the second charge with the Registrar of Companies
(ROC) by submitting forged letter ceding pari passu charge purportedly issued by the
bank. The signatures on these letters purported to have been issued by the bank were
forged. Further, the borrowers had informed the bank of having liquidated the loan with
the financing body and submitted audited balance sheets without showing any liability
towards the body, which were later found out to be fudged.
23
41
Shri Raj Surya Medith

Address
Flat No.8, Building No. 124, Street No. 10, Block No. 15, JLEB
Shyouk Area, Kuwait.
A bank had sanctioned housing loan of Rs. 5.91 mn to Shri Ray Surya Medith, an
NRI, in the year 2009. The account showed slippage and became NPA in
September 2011. During recovery proceedings, it came to light that the title deeds
furnished by the borrower to the bank were fake.
42
M/s High Value Stone Crafts

700, Ramnagar, Bodhithimman Palayam, Kupperpalayam, S. S.
Kulam, Coimbatore, Tamilnadu
Proprietor Shri C. Sundaramoorthy
Address
No.5, Shanmugapriya Apartments, Thirumalaisamy Road, New
Sidhapudur, Coimbatore - 641107.
Address
A bank had sanctioned a term loan of Rs 10.64 mn to the firm for purchase of machinery
and construction of buildings. It was observed that the borrower purchased old/second
hand machinery and construction of the building was not done as per disbursements
made. Stage completion certificates furnished by the borrower were found to be false.
Disbursements were made without ensuring end use of funds.
43
M/s Vedant Exports

Partners
9, Radhey Industrial Estate National Highway, Bavla Gujarat

Shri Bhavin Mistry
Ms. Beena Mistry
Address
B/32, Parvati Nandan Flats Near Ujala Circle Sarkhej Ahmedabad - 382210.
Associate
Concern
Partners
M/s Bhagyodaya Rice Mills
Address
1) Shri Bhavin Mistry

2) Ms. Beena Mistry
9, Radhey Industrial Estate, National Highway, Bavla 382220.
Address
A bank (Bank-A) had sanctioned credit facilities amounting to Rs.8.00 mn on December
5, 2011 to the firm for setting up a groundnut processing unit under CGTSME. On
October 11, 2012 officials of another bank (Bank-B) informed the bank that they had
financed M/s Bhagyodaya Rice Mills (the borrower firm was set up in the compound of
this mill) and the mill was taken over by the partners, Shri Bhavin Mistry and Ms. Beena
Mistry from the outgoing partners and the said groundnut processing unit was also
covered by them in the project and Bank-B had the charge over shed and machineries of
M/s Vedant Exports also. The partners of the borrower firm agreed availing facilities from
both the banks by concealing the facts.
Thus the bank (Bank-A) was defrauded to the tune of Rs. 7.80 mn.
24
44
1) M/s Himalayan Bee Keeping Marketing Co-operative Ltd. (Unit I & II)
Shri. Manzoor Hussain (MD)
Vidhata Nagar, Narwal Bala, Jammu-Bhatindi Road, Sunjwan.
Shri. Manjoor Hussain S/o Abdul Rashid
2) M/s Hilly Bee Keeping Marketing Co operative Ltd.
Address
Smt. Shakeela Begum (MD)

Smt. Shakeela Begum W/o Manzoor Hussain
Address
61, Vidhata Nagar, Narwal Bala, Jammu-Bhatindi Road, Sunjwan.
3) M/s Peer Panchal Honey Bee Keeping Marketing Co-Operative Ltd.
Shri. Said Mohd.
Address
Jhiri Road, Mishriwala Jammu.
4) M/s Peer Panchal Honey Bee Keeping Marketing Corporation Ltd.
Shri. Said Mohd.
Shri. Ramesh Kumat Raina
Address
Porkhu-Akhnoor Road, Jammu.
5) Shri. Said Mohd.
Address
Jhiri Road, Mishriwala Jammu
A bank had sanctioned various credit facilities to the tune of Rs. 33.49 mn during
2007-2009 to M/s Himalayan Bee Keeping Marketing Cooperative Ltd, M/s Hilly
Bee Keeping Marketing Co operative Ltd., M/s Peer Panchal Honey Bee Keeping
Marketing Co- Operative Ltd. and others. Central Bureau of Investigation vide their
letter dated May 22, 2012 informed the bank that they had received reliable
information that the borrowers had obtained credit facilities from the bank in the
form of term loans and Working Capital facilities on different occasions during the
period between 2007 and 2009 on the basis of highly overvalued
primary/collaterals, forged/false revenue documents of non-existing properties in
connivance with bank officials and officials of KVIC. Investigations by the bank
revealed that the borrowers had submitted highly inflated valuation certificates and
misled the bank by showing different properties and also submitted title deeds of
non-existing properties. Endorsements of Revenue Authority for having noted
bank's lien on the properties were forged/fake. Smt. Shakeela Begum sold the
property in her name after mortgaging the same to the bank.
45
M/s Indus Travels and Logistics

Partners
Address
Shri Harpreet Singh Cheema

Shri Ravinder Singh Paul
1126, Sector 8-C Chandigarh
25
A bank (Bank-A) had sanctioned a term loan of Rs. 5.00 mn to the borrower firm
for purchase of 25 cars (5 Baleno cars and 20 Esteem cars) from M/s Berkley
Automobiles Ltd., at an estimated cost of Rs. 12.55 mn. The entire loan amount
was disbursed through a Pay Order for Rs. 5.00 mn on May 1, 2006. The branch
did not have any Cash receipt or sale invoice from the dealer firm for having
received the amount. At a later date the borrower firm produced notarized copies
of bills/invoices, and RC books purportedly containing bank's lien on all 25 cars.
Original invoices, RC books and other original documents were not made
available to the bank by the borrowers. A confirmation from the State Transport
Authority, UT Chandigarh indicated that only 10 cars were hypothecated to this
bank (Bank-A) and 9 Petra cars were hypothecated to another bank (Bank-B), 5
Esteem cars to a different bank (Bank-C). The borrowers diverted a part of bank
funds and furnished fabricated RC books. Reportedly the borrowers had sold all
the ten cars hypothecated to the bank. At the business address furnished to the
bank, no firm by such name was functioning.
Thus the bank (Bank-A) was defrauded to the tune of Rs. 5.00 mn.
Supplementary Caution Advice
In continuation of our circular ADV 56 / 2011-12 dt. 06.07.2011, Caution Notice no.
6 / 2011-12, Item No. 8 and our circular ADV 83 / 2011-12 dt. 03.08.2011, Caution Notice no. 7 / 201011, Item Nos. 6 and 14, regarding serious irregularities in the conduct and operations of the accounts
relating to M/s Lifeline Industries Ltd and associate concerns, we furnish herewith some more
information reported in connection with another fraud committed by the group.
46
M/s Lifeline Industries Ltd.

A-401, 4th Floor, Mastermind-III, Royal Palms Estate, Aarey Milk
Colony, Goregoan (E), Mumbai-400 065
Directors 1. Mr.Nikunja Kanakia
2. Mr.Kirti M Kanakia
Address
701 / 702, Quarter Deck Co-op Housing Soc, J.P.Road, Versova,
Andheri (W), Mumbai-400061
Associate Concern Director / Proprietor details
1. M/s Lifeline Drugs & Pharma Ltd
Address
A-401, Master Mind-III, Royal Palms Estate, Aarey Milk Colony,
Goregoan (E), Mumbai-400 065
2. M/s Prominent Holidays Pvt Ltd
Address
11/13, Ruturaj, Juhu Road, Near Lido Cinema, Santacruz (W),
Mumbai-400 049
3. M/s T.J.Travel Services Pvt Ltd
Address
113, Dheeraj Heritage, 1st Floor, Near Santacruz Bus Depot,
S.V.Road, Santacruz (W), Mumbai-400 054
4. M/s Prominent Leasefin Pvt Ltd
5. M/s N.K.Exim Pvt.Ltd
Address
A-102, Jayant Apartment, Sahara Road, Opp.Cargo Complex,
Andheri(E), Mumbai-400 099.
Address
26
Please refer to above mentioned caution advices circulating the modus operandi of the
fraud perpetrated by M/s Lifeline Industries Ltd. and its sister concerns and their directors
/ partners / guarantors. On March 19, 2010 a Financial Institution sanctioned an export
credit limit of Rs.150 mn to the party secured by collateral security of charge over third
party guarantors property at A-20, Padma Vilas Enclave, Sr.No.799, Wanowarie,
Cantonment, Pune. Accordingly the FI disbursed USD equivalent of Rs.9.02 crore on
April 04, 2010 and USD equivalent of Rs.2.09 crores on June 01, 2010. As the monies
due under the facility were not received, the account was classified as NPA on December
31, 2010. The loan was recalled on April 25, 2011 and the promoters were declared wilful
defaulters by the FI. When the FI initiated action under SARFAESI act and published the
possession notice in daily newspapers, Canara bank, Khar West Mumbai branch wrote to
the FI claiming charge on the property. Also one of the guarantors and joint owner of the
property, Mrs. Jayashree Kankia filed securitization application u/s 17 of securitization act
denying creation of any charge in favour of the FI. Investigations were taken up which
revealed that the title deed mortgaged by these borrowers with the FI did not match with
the certified copy obtained from Sub-Registrars office.
Thus the FI was defrauded to the tune of Rs.41.00 mn.

6 / 2011-12, Item No. 27 and our circular ADV 132 / 2011-12 dt. 21.12.2011, Caution
Notice no. 16 / 2011-12, Item no. 31, regarding serious irregularities in the conduct
and operations of the accounts relating to M/s Tauras Earth Movers Ltd. and
associate concerns, we furnish herewith some more information reported in
connection with another fraud committed by the group.
47
M/s. Taurus Earth Movers Ltd

Address
34, Embassy Diamante Vittal Maliya Road Bangalore 560 001.
Firms that had issued fake invoices
Address
Address
Address
1. M/s. Montreal Trading Co. Pvt. Ltd.

2. M/s. Starview Mercantile Co. Pvt. Ltd.
3. M/s. Asha Multitrade Pvt. Ltd.
H-157, Dr. Baba Saheb Ambedkar Nagar. S M Road, Kokari Agar,
Sion, Koliwada, Mumbai.
4. M/s. Superfine Trading Co. Pvt. Ltd.
5. M/s. Everfame Trading Co. Pvt. Ltd.
6. M/s. Geonet Trading Co. Pvt. Ltd.
7. M/s. Topcare Trading Co. Pvt. Ltd.
C-002-20, Chandresh Hill, C-19, 20, 21, Co-operative Housing
Society, Achole Road, Nalasopara (E), Thane.
8. M/s. Realstar Trading Co. Pvt. Ltd.
4/402, Sai Shyam, C-Wing, Mamvelpada Road, Virar (E), Thane.
27
Please refer to above mentioned caution advices circulating the modus operandi
of the fraud perpetrated by M/s. Taurus Earth Movers Ltd. and its sister concerns
and their directors/partners/guarantor. The banks may also take into account the
names of eight companies that had issued fake and accommodative invoices
without actually supplying any materials to M/s. Taurus Earth Movers Ltd. which
facilitated such large value fraud involving Rs. 128.88 crore by /s. Taurus Earth
Movers Ltd. on a bank.

20 / 2011-12, Item No. 7, regarding serious irregularities in the conduct and
operations of the accounts relating to M/s Trisakthi Publications Pvt. Ltd and
associate concerns, we furnish herewith some more information reported in
connection with another fraud committed by the group.
48
(1) M/s G J Multimedia India Pvt. Ltd.

Address
Directors
Address
Directors
Address
Directors
Address
56/21, Shastry Nagar 1st Avenue, Adayar Chennai 600 020

1. Shri. S Sundara Raman
2. Smt. Nalini Sundara Raman
3. Shri. Madan Chandar
7/4, 4th Main Road Indira Nagar, Adayar Chennai 600 020.
4. Shri. Vijaya Venkat Romanan
5. Smt. Madumitha
A4, Sri Vatsa Krishna Apartments, 20, 2nd Main Road, Kasturba
Nagar, Adyar, Chennai 600 020.
6. Shri. P Srinivasan
Plot No. 7-8, 1st
Chennai 600 091.
Cross
Street,
Bharathnagar,
(2) M/s. Giriguja Publications Pvt. Ltd.

Directors
Associate
concerns
1. Shri. S Sundara Raman

2. Smt. Nalini Sundara Raman
3. Shri. Madan Chandar
i. M/s. G J Printing Solutions - Shri. Madan Chandar
ii. M/s. Trisakti Media - Shri. P Srinivasan
iii. M/s. G J Transport - Shri. P Srinivasan
28
Madipakkam,
A term loan of Rs. 336.00 mn and CC limit of Rs. 10.00 mn on September 18,
2009 was sanctioned to the borrowers by a bank for Preview and Sound mixing
theatre and purchase of equipments. A term loan of Rs. 84.10 mn and CC limit of
Rs. 2.50 mn were also sanctioned to M/s. Giriguja Publications Pvt. Ltd., a sister
concern of M/s G J Multimedia India Pvt. Ltd. on September 10, 2008 for
construction of building and purchase of machinery.
M/s G J Multimedia India Pvt. Ltd.: Vigilance investigation conducted by the
bank after the account turned NPA revealed that the borrower had paid Rs. 11.00
mn to M/s. Modarchs Consultants Chennai Pvt. Ltd. On April 08, 2010 for doing
post production film facility. But, MCCPL returned the amount on April 15, 2010 to
GJMIPL as they could not undertake the work. However, the amount was not
credited to the loan account and the borrower siphoned off the amount. The
officials of MCCPL informed the bank that the receipts/invoices purportedly issued
by them were fabricated which confirmed that the borrower submitted forged
bills/invoices. Further, the borrower paid an advance payment of Rs. 17.00 mn to
M/s. Home Theatre Solutions from TL account on April 09, 2010 for turnkey
project. But, Shri. S Sundara Raman informed Shri. Rajesh of M/s. Home Theatre
Solutions that the project was dropped by the company and requested to return
the entire amount to the credit of SB account of Shri. Sundara Raman with
another bank. The entire amount was returned on April 10, 2010. It was observed
that the bills/invoices purportedly issued by M/s. Home Theatre Solutions were
fake and thus, the amount was siphoned off by the borrower. The bills/receipts
issued by M/s. Vetrivel Videos for Rs. 1.98 mn and M/s. Real Image for Rs. 4.08
mn was also found to be fake. Thus, the borrowers diverted and siphoned off Rs.
40.10 mn.
M/s. Giriguja Publications Pvt. Ltd.:
Investigations revealed that the company did not route entire transaction through
CC account and continued to maintain and operate account with ICICI Bank.
Turnover in the account was not satisfactory and there were no operations in CC
account since June 01, 2011. The account turned NPA on August 30, 2011. The
company upgraded the account in October 2011 which was again classified as
NPA on June 30, 2012. It was observed during investigations that three Pos for
Rs. 9.00 lakh, Rs. 5.39 lakh and Rs. 4.50 lakh favouring the machinery supplier
M/s. Safire Traders and a cheque for Rs. 7.46 lakh were encashed through
another bank by the borrower. When the officials of the bank contacted MD of
M/s. Safire Traders, he informed that he had complained against Shri. S Sundara
Raman for defrauding TMB by using firms name. The bills/invoices of M/s. Safire
Traders submitted by the borrower were also fake.
29

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MAIN :

ADV - 139 / 2012-13

Sub : Caution Notice No. 08 / 2012-13

Upon receipt of this notice, Branch Managers are requested to

verify thoroughly and to report to their Zonal Office within a week, as to

Annexure to Caution Notice No. 08 / 2012-13

M/s Anil Engineers

Proprietor Shri Bipin Acharlal Desai

M/s Gokul Mega Stores

Proprietor Shri Vijay Garg

M/s Patra Enterprises

Naya Bazar Balasore Orissa

M/s Sai Creation

Shri Bhavesh Ratilal Ranpriya

M/s Shaan Foods

Shri Patnam Amruth Prasad

Shri Pradeep Chintaman Ghose

Flat No.1, Yashomati Society, Shakti Nagar, Hirawadi, Nashik

(1) M/s. Sidhhi Graphics

206, Kemp Plaza, Mind Space, Next to Evershine Mall,

206, Kemp Plaza, Mind Space, Next to Evershine Mall,

(A) M/s VTR Freight Forwarders

D/2, Om Riddhi Sidhi Apartments, S.N.Road, Mulund (W), Mumbai-400 080

Associate (4) M/s Tej Logistics

(B) M/s V.Tej Roadlines

1) Shri Abhishek Kumar Sinha / Singh S/o Shri Brijnandan Prasad

Proprietor M/s Kisan Tractors

The Branch Manager of a bank, in collusion with fraudsters, sanctioned seventy

M/s. Sal Marketing

F-24, Kalkaji New Delhi 110 019

M/s. Bhole Flour Mills

Mauza:Pachwa, Jasrana Road Jasrana Dist: Firozabad Uttar Pradesh

1. Shri. Manoj Kumar S/o. Shri. Kamta Prasad Sharma

3. Shri. Brij Mohan Sharma S/o. Shri. Satya Narayaan Sharma

M/s Dhanunjaya Tug & Boats Partnership Firm

3. Smt. Ponnada Vinay Kumari (Partner) W/O SATYANARAYANA,

(1) M/s. Hi Grade Shoes

M/s K P Packaging Ltd.

3) Shri Ritesh Pravin Gala

109/B, Kashibhai Cottage, Worli Village, Opposite Kamat Stores, B D

M/s. Luxmi Overseas

Shop No. 5, New Grain Market Indri, Karnal District Haryana.

M/s. Swastik Enterprises

47, IV Floor, Rishikesh Apartment 75/38 G N Chetty Street T Nagar,

M/s Pushap Agro Tech Pvt. Ltd.

M/s Riya Trading

Shri Bimal Kundu

27/B, South End Park, Kolkata 700 0029.

M/s Sarvottam Overseas Pvt. Ltd.

iii. Shri R Kannan

Guarantor Smt. Usha Johri

1. Shri. Sarvottam Mukesh Sahgal

1. Shri Varun Sahgal

M/s. Sri Lakshmi Ganapathi Modern Rice Mill (SLGMRM)

16/114, Denduluru Mandal West Godavari, Andhra Pradesh.

7B/15/45, Maruthi Nilayam, Vuppuvari Veedhi, Eluru - 534 001.

1/92, Pothunuru PO, Denduluru Mandal West Godavari, Andhra Pradesh.

M/s Victoria Agro Food Processing Pvt. Ltd.

Nilangekar Bungalow, LIC Colony Dyaneshwar Road Latur 413 512.

1. Shri. Ashish Marwaha

M/s Subramanya Enterprises

M/s SRM Tex

M/s. DVP Exim Pvt. Ltd.