According to the FIR, the bank filed the complaint on 17 November. “It was alleged that the Oriental Bank of Commerce sanctioned a loan amounting to Rs148.60 crore in the year 2011 to the company (Simbhaoli Sugars). The FIR added that the bank then sanctioned another corporate loan of Rs110 crore to Simbhaoli Sugars on 28 January 2015, to pay its outstanding loan of Rs97.85 crore. Over the last 10 days, the CBI has filed more than seven cases on complaints filed by banks including Punjab National Bank, State Bank of India, Oriental Bank of Commerce, Bank of Maharashtra and Telangana Grameena Bank. Ltd (by Bank of Baroda) and jewellery exporter Dwarkadas Seth International (by Oriental Bank of Commerce).

Source: Mint February 25, 2018 17:03 UTC