CBI chargesheets private medical and educational trust in Rs 115 crore cheating case
Chennai: Central Bureau of Investigation has filed a chargesheet against a private Medical and Educational Trust, its then Chairman and Managing Trustee and another personfor cheating the Union Bank of India (UNIL) to the tune of Rs 115 crore.
A CBI release here today said the chargesheet was filed against the Chennai-based Trust under sections 120-B read with 420, 468 and 471 of IPC for causing an alleged loss to the bank.
The CBI had registered a case on July 28 last year against the Trust Chairman and Managing Trustee and others on a complaint filed by the bank.
It was alleged that the Trust had availed a Term Loan and Bank Guarantee for establishing a Medical College at Thiruvallur District(Tamil Nadu) and did not repay the same thereby causing a loss of Rs.115.21 crore to the Bank.
It was also alleged that the said trust had filed false and fabricated Income Tax Returns of the Chairman and Managing Trustee and Trustee of the said Trust, constructed few Medical College buildings on the land property which was not mortgaged with the bank and diverted funds for other purposes.
After thorough investigation, a chargesheet was filed in the designated court at Chennai.