Tendukheda EOW files criminal conspiracy case in misappropriation of bank loan worth Rs 68.60 lakh

 

 

 

 

Economic Offences Wing (EOW) has registered a case of cheating and criminal conspiracy in connection with alleged misappropriation of a bank loan amounting to Rs 68.60 lakh in Tendukheda area of Narsinghpur district. According to EOW officials, the case has been registered under under Sections 406, 420 and 120-B of Indian Penal Code (IPC). The offence took place between July 28, 2023 and August 3, 2023. The complaint was lodged by Dharmendra Singh Rajput, Branch Manager of Punjab National Bank (PNB), Tendukheda.

 

He alleged that Hemraj Kirar, proprietor of Shuddhi Milk Product, Bilthari, Tendukheda, in collusion with Soni Singh, proprietor of Hetal Dairy Machineries, Kanpur (Uttar Pradesh), fraudulently obtained loan of Rs 68.60 lakh from PNB Tendukheda for establishing a milk products unit. A machinery quotation worth Rs 97.72 lakh from Hetal Dairy Machineries, Kanpur, was submitted to the bank. On July 28, 2023, the loan amount was transferred directly to PNB account of Hetal Dairy Machineries at Panki Industrial Area, Kanpur. However, the proposed unit was never established at the original site in Bilthari.

 

The accused later informed the bank that the unit had been shifted to a rented premises near Juhla Bypass in Katni. On inspection by officials from PNB’s Jabalpur Circle Office, it was found that only two out of six machinery sections were installed and those were non-operational. Further scrutiny of bank accounts revealed that Rs 61.50 lakh was transferred back from Hetal Dairy Machineries’ account to Axis Bank account of Shuddhi Milk Product, Gadarwara, indicating misuse of loan funds. EOW officials stated that the accused allegedly raised fake bills and siphoned off loan amount without installing complete machinery. Investigation is currently underway against Hemraj Kirar, Soni Singh and others involved.