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CBI books Delhi-based co over Rs 2,348-cr bank fraud
Language : hindi
National . Difficult
07-04-2019 12:50:28 .
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 The Central Bureau of Investigation (CBI) on Saturday conducted searches at several locations in Delhi NCR, Chandigarh, Kolkata and Orissa, at the offices of New Delhi based private company in bank fraud case. 
 
It also conducted searches at the residential premises of the company's directors, promoters and their associates after case was registered, CBI statement said. 
 
The investigation agency said the private company, through its directors and other staff, fraudulently diverted around Rs 2, 348 crore from the loan account of Punjab National Bank (New Delhi and Chandigarh), Oriental Bank of Commerce (Kolkata), IDBI Bank (Kolkata) and UCO Bank (Kolkata) to the accounts of various shell companies "without any obvious purpose and thereby misused the funds". 
 
 
"It was further alleged that the said company availed various loan facilities from 33 banks and financial institutions during 2007 to 2014 to the tune of Rs 47, 204 crore (approx. and defaulted on repayments. 
Subsequently, lead bank PNB declared the account as NPA followed by other banks and financial institutions, the statement said. 
  
"It was also alleged that the accused entered into criminal conspiracy among themselves and with unknown public servants of banks and others to cheat banks/ financial institutions/ government exchequer. 
DIFFICULT WORDS
investigation institutions fraudulently residential themselves repayments registered government facilities conspiracy
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