Coimbatore: CBI files case against Surabhi Group of companies for obtaining loans in IOB using forged accounts
Coimbatore: The Anti-Corruption Bureau of the Central Bureau of Investigation (CBI), Chennai has registered a case against Surabhi Group and its directors for allegedly filing forged accounts and causing a loss of Rs 37.74 crore to the Indian Overseas Bank, Coimbatore.
The Surabi Group is headquartered in Palakkad, Kerala. The steel-based company operates under the names Surabhi Steels, Surabhi Iron & Steels, and Surabhi Rolling Mills in Kerala and Coimbatore with Kader Pillai, Anooj Kader, Sanooj Kader, and Rukiya Kader, as its directors.
An FIR registered has been registered by the CBI in September against thethree companies Surabhi Steels Pvt Ltd, Surabhi Iron and Steel Pvt Ltd, Surabhi Steel Rolling Mills Pvt Ltd, directors and guarantors of the three companies.
An audit by Indian Overseas Bank (IOB) in 2019 revealed that Surabhi Group had obtained loans from IOB, Oppanakara Street bank in 2010 to 2011 allegedly by forging documents and causing a loss to the tune of Rs. 34 crore to the bank.
The audit revealed that all the three companies had maintained two sets of books of accounts and two audited financial statements. One set for submission to the bank and other for submission to the registrar of companies (ROC).
It has come to light that the companies had allegedly been involved in illegal cash transactions, also. The audit also revealed that IOB had incurred a loss of Rs 37.74 crore due to non-payment of interest and principal on forged loans.
Based on a complaint lodged by D Saraswathi, Chief Regional Manager of IOB, Gandhipuram, the CBI registered a case against Surabhi Group Of Companies and four of its Directors Kader Pillai, Anooj Kader, Sanooj Kader, and Rukiya Kader under various sections including fraud, conspiracy, forgery and filing of forged documents.
The CBI are probing the issue.
The Surabi Group is headquartered in Palakkad, Kerala. The steel-based company operates under the names Surabhi Steels, Surabhi Iron & Steels, and Surabhi Rolling Mills in Kerala and Coimbatore with Kader Pillai, Anooj Kader, Sanooj Kader, and Rukiya Kader, as its directors.
An FIR registered has been registered by the CBI in September against thethree companies Surabhi Steels Pvt Ltd, Surabhi Iron and Steel Pvt Ltd, Surabhi Steel Rolling Mills Pvt Ltd, directors and guarantors of the three companies.
An audit by Indian Overseas Bank (IOB) in 2019 revealed that Surabhi Group had obtained loans from IOB, Oppanakara Street bank in 2010 to 2011 allegedly by forging documents and causing a loss to the tune of Rs. 34 crore to the bank.
The audit revealed that all the three companies had maintained two sets of books of accounts and two audited financial statements. One set for submission to the bank and other for submission to the registrar of companies (ROC).
It has come to light that the companies had allegedly been involved in illegal cash transactions, also. The audit also revealed that IOB had incurred a loss of Rs 37.74 crore due to non-payment of interest and principal on forged loans.
Based on a complaint lodged by D Saraswathi, Chief Regional Manager of IOB, Gandhipuram, the CBI registered a case against Surabhi Group Of Companies and four of its Directors Kader Pillai, Anooj Kader, Sanooj Kader, and Rukiya Kader under various sections including fraud, conspiracy, forgery and filing of forged documents.
The CBI are probing the issue.