U.K.-based firm, Indian directors held for bank fraud
The Hindu
Forensic audit revealed diversion and siphoning of funds on the basis of bogus or inflated invoices
The CBI has booked a U.K.-based company, Molinare Limited, and its Indian directors for allegedly cheating the London branch of Bank of India to the tune of ₹192.48 crore.
Apart from the company, which was into post production services in the entertainment and media industry, the FIR names its then managing director, Prabodh Kumar Tewari and his two sons, Anand and Abhishek, as accused persons. Anand was also a company director.
The three accused, who are residents of Maharani Bagh in Delhi, cheated the bank’s London branch of £18.51 million. The CBI had earlier registered seven FIRs linked to Mr. Tewari and his companies on allegations that they cheated several banks of about ₹2,600 crore. In 2012, the agency had also arrested him and Anand. They later came out on bail.
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