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Unitech MD, relative booked by CBI for ‘Rs 198 crore cheat bank’ | India News


NEW DELHI: The CBI has charged Unitech doctor Sanjay Chandra, his father Ramesh Chandra, and his brother Ajay Chandra of allegedly cheating a Rs 198 million public sector bank. On Friday, a court granted Sanjay Chandra a four-week provisional bail for health reasons.
The CBI said in the FIR that it had received a complaint from Canara Bank on November 18, after which an investigation was launched and a case was registered. It has been alleged that Unitech obtained credit facilities in the framework of different banking agreements through which it availed itself of loans with personal and corporate guarantees, in addition to the mortgaged properties.
However, the company allegedly sold the properties without informing the bank and diverted and embezzled funds. The FIR alleged that the bank was owed Rs 198.09 million as an outstanding liability in the form of open cash credit and bank guarantees until May 28.

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