CBI registers case against Delhi based firm, Radikal Foods

NEW DELHI: The Central Bureau of Investigation (CBI) has registered a case against a Delhi based company, M/s Radikal Foods Limited and its Directors including unknown Public Servants on charges of corruption, cheating and criminal conspiracy on the complaint from State Bank of India on behalf of a consortium of banks.

It is alleged that the said company availed credit facilities to the tune of Rs.732 crore(approx) and cheated the complainant bank and other consortium banks by way of forgery & using forged documents as genuine.

The FIR says that an alleged loss of Rs.819.48 crore(approx) as on April 1, 2018 was caused to the banks. The consortium banks consisted of 10 banks namely State Bank of India, Indian Overseas Bank, Oriental Bank of Commerce, Exim Bank, Bank of India, IDBI Bank, Bank of Maharashtra, CSB Bank, Vijaya Bank (now Bank of Baroda) & UCO Bank.


Searches were conducted on Thursday at the residence of the accused in Delhi, said agency sources.