New Delhi . After Nirav Modi and Mehul Choksi, the CBI has registered a case against a diamond exporter company of Delhi. This company has been accused of doing loan fraud of Rs 389.85 crore from the Oriental Bank of Commerce.
The CBI has registered a case of alleged fraud against Dwarka Das Seth International Pvt Ltd. Public sector Oriental Bank of Commerce had complained to the CBI six months ago. Acting on the same, the investigating agency has registered a case against the company and its all directors, Sariyeth Seth, Rita Seth, Krishna Kumar Singh, Ravi Singh and another company, Dwarka Das Seth Sage Incorporation.
The company took various credit facilities from Oriental Bank of Commerce between 2007 and 2012. During this, the credit amount has reached Rs 389 crores. The bank said in its complaint that the company was using Letters of Credit (LOC) to pay gold and other prized gems to other creditors and was sending gold and money outside the country with the help of fake transactions. This is also recorded in CBI’s FIR. This company has now been found to be involved in business transactions in the name of mask companies.