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Raids at 13 places against S Kumar in Rs 1245 crore bank fraud case

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CBI has recovered Rs. Textile company S Kumars Nationwide Limited (SKNL) and 14 others have been booked in a bank fraud case of Rs 1,245 crore. This includes the promoters and directors of the company. The company had taken loans in collaboration with banks led by IDBI Bank.

CBI spokesperson RC Joshi said searches were conducted on Wednesday at 13 places in Maharashtra, Gujarat and West Bengal linked to the accused in the case. Criminal documents have been found from there.

A case has been registered against the company and its promoters/directors for alleged misappropriation of bank funds/moving funds between 2021 and 2018.

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