CBI books Best Foods Ltd for Rs 1006 cr bank fraud, conducts searches at four locations

·1-min read

New Delhi, Nov 10 (PTI) The CBI on Tuesday conducted searches at the offices of Best Foods Limited and residences of its chairman and managing director for alleged bank fraud to the tune of Rs 1006.46 crore in a consortium led by State Bank of India, officials said on Tuesday.

They said the agency has invoked IPC sections related to cheating, criminal misappropriation, criminal conspiracy, criminal misconduct and forgery against Best Foods Limited for alleged diversion of credit funds during April 01, 2015 to March 31, 2018.

They said the search operation started in the morning at four locations -- the company's offices in Chandigarh and New Delhi, and residences of chairman Mohinder Pal Jindal and managing director Dinesh Gupta in Karnal. PTI ABS AAR AAR