CBI files FIR against company, its directors for cheating SBI-led consortium of over Rs 862 cr

The CBI has registered an FIR against Trimax IT Infrastructure and Services Ltd and its directors for allegedly cheating the State Bank of India-led consortium to the tune of over Rs 862.06 crore between 2009 and 2017, officials said on Monday. The agency has also named TIISL managing director Surya Prakash Madrecha and director Chandra Prakash Madrecha as accused in the FIR, they said.

Following the FIR, the agency conducted searches at nine locations, including residential and office premises of the accused at Mumbai, Kolhapur etc, CBI Spokesperson RC Joshi said.

"It was alleged that during the period 2009-2017, the accused were sanctioned credit facilities under consortium banking which were enhanced from time to time," he said.


Joshi said the directors of the private company, allegedly acting in conspiracy with others, "manipulated the books of accounts, diverted the funds" released by banks and thereby, cheated seven consortium member banks, including State Bank of India, to the tune of Rs 862.06 crore.