After Nirav Modi and Mehul Choksi, the CBI has registered a case against a Delhi-based diamond jewellery exporter for an alleged bank loan fraud to the tune of Rs 389.85 crore towards Oriental Bank of Commerce.

Also read: <a href="http://www.wionews.com/india-news/opinion-after-nirab-modi-frauds-pnb-are-we-to-pay-for-our-theft-ourselves-33797">After Nirav Modi frauds PNB, are we to pay for our theft ourselves?</a>

The CBI has booked Dwarka Das Seth International Pvt Ltd for the alleged fraud.

Also read: <a href="http://www.wionews.com/india-news/pnb-fraud-enforcement-directorate-freezes-nirav-modis-assets-worth-rs-4386-crore-33805">Enforcement Directorate freezes Nirav Modi&#39;s assets worth Rs 43.86 crore</a>

Six months after the public sector bank filed a complaint with the CBI, the agency booked the company, and Sabhya Seth, Reeta Seth, Krishna Kumar Singh, Ravi Singh - all directors of the firm - and another company named Dwarka Das Seth SEZ Incorporation.

Also read: <a href="http://www.wionews.com/india-news/post-scam-pnb-transfers-nearly-18000-employees-after-cvc-rap-33622">Post-scam, PNB transfers nearly 18,000 employees after CVC rap</a>

The company has availed various credit facilities from OBC between 2007-12, which swelled to Rs 389 crore during the period.

It was found by the bank that the company was using Letters of Credit (LoCs) to pay off other creditors against the purchae of gold and other precious stone and transfer gold and funds outside the country using fictitious transactions, the bank complaint, now part of the CBI FIR, alleged.

The company was also engaging in business transactions with non existent entities, it said.&nbsp;

The CBI has booked Dwarka Das Seth International Pvt Ltd for the alleged fraud.

After Nirav Modi and Mehul Choksi, the CBI has registered a case against a Delhi-based diamond jewellery exporter for an alleged bank loan fraud to the tune of Rs 389.85 crore towards Oriental Bank of Commerce. Also read: After Nirav Modi frauds PNB, are we to pay for our theft ourselves? The CBI has booked Dwarka Das Seth International Pvt Ltd for the alleged fraud. Also read: Enforcement Directorate freezes Nirav Modi's assets worth Rs 43.86 crore Six months after the public sector bank filed a complaint with the CBI, the agency booked the company, and Sabhya Seth, Reeta Seth, Krishna Kumar Singh, Ravi Singh - all directors of the firm - and another company named Dwarka Das Seth SEZ Incorporation. Also read: Post-scam, PNB transfers nearly 18,000 employees after CVC rap The company has availed various credit facilities from OBC between 2007-12, which swelled to Rs 389 crore during the period. It was found by the bank that the company was using Letters of Credit (LoCs) to pay off other creditors against the purchae of gold and other precious stone and transfer gold and funds outside the country using fictitious transactions, the bank complaint, now part of the CBI FIR, alleged. The company was also engaging in business transactions with non existent entities, it said.

After Nirav Modi, Delhi-based diamond exporter booked for Rs 389-cr OBC loan fraud

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After Nirav Modi, Delhi-based diamond exporter booked for Rs 389-cr OBC loan fraud