CBI books Educomp Group entities in ₹806.07-cr. bank fraud case
The Hindu
In Feb., it registered case against ESL and others for allegedly cheating consortium of ₹1,955 cr.
The CBI has booked Educomp Infrastructure & School Management Limited (EISML), Educomp Solution Limited (ESL) and others in a ₹806.07-crore bank fraud case. In February, it registered a case against ESL and others for allegedly cheating a consortium of ₹1,955 crore. In the latest First Information Report, the CBI has also named Shantanu Prakash, Jagdish Prakash, Vijay Kumar Choudhary, Vinod Kumar Dandona, Rajat Khare, Akash Kumar Shah and Krishna Singh as accused. The company had borrowed funds from a consortium of seven banks. The alleged fraud was detected during a forensic audit of the transactions made from April 2014 to April 2018. The accused persons siphoned off the funds via related parties and associate concerns.
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