UP Sugar Firm Allegedly Caused Rs. 109 Crore Losses To State-Run Bank

Описание: The police said on Sunday it had filed a fraud case against executives of Simbhaoli Sugar for causing alleged losses of Rs. 109 crore to state-run Oriental Bank of Commerce. The bank alleged that the sugar refiner "dishonestly and fraudulently diverted" a Rs. 148 crore loan sanctioned in 2011 for financing cane farmers for private use, a statement issued by the Central Bureau of Investigation (CBI) said.

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