The Central Bureau of Investigation (CBI) has filed a case against M/s Pune Buildtech Pvt Ltd and its promoters for allegedly defrauding Punjab National Bank (PNB) of Rs 30.13 crores between 2013-16. Per the CBI, the accused have committed various offences including criminal breach of trust, fraud, siphoning of funds, diversion of funds, criminal misappropriation and cheating on the Bank.
According to the CBI, a complaint dated June 16, 2022 was received from Bina G. Narula, Assistant General Manager, PNB, Mumbai, wherein it had been alleged that M/s Pune Buildtech Pvt Ltd (PBPL) situated in Goregaon (E), through its Directors in conspiracy with unknown persons and public servants with an intent to cheat/defraud the bank availed the Term Loan of Rs.30.13 crores and caused wrongful loss of Rs.30.13 crores to the PNB by siphoning off and diversion of funds, thus causing wrongful gains to themselves and corresponding wrongful loss to the bank.
“PBPL (formerly known as Dynamix Balwas Resorts Pvt Ltd) was incorporated with an objective to construct five star hotels and resorts. PBPL had planned to construct a five star hotel in Yerwada, Pune on a plot measuring 14,368 sq. meters. PNB financed this project (Rs 102 crore) & erstwhile Allahabad Bank (now Indian Bank) (Rs 102 crore). Our bank has disbursed Rs 30.50 crore till Jan 2011. Thereafter, the project has been delayed due to delay in obtaining clearance from Pune Municipal Corporation. Further, disbursement was stopped by the bank. There have been no construction activities in progress since 2011,” PNB’s complaint to the CBI had stated.
The account has been declared a fraud by the complainant bank on the grounds of diversion and siphoning of funds and the same has been reported to the Reserve Bank of India on March 22, 2021, for a fraud amount Rs 30.13 crore, the CBI’s FIR stated. (MSN)
