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CBI grills Simbhaoli Sugars’ CMD in Rs 109-cr bank fraud case
New Delhi, March 6 (IANS) The CBI on Tuesday grilled the CMD of Simbhaoli Sugars Ltd in its ongoing investigation into a Rs 109-crore loan default case involving the Oriental Bank of Commerce.
“We have grilled CMD Simran Kaur Mann of the Simbhaoli Sugars Ltd today (Tuesday),” a Central Bureau of Investigation (CBI) official said here.
On Thursday, the agency had questioned the company’s CEO G.S.C. Rao.
The CBI, on February 22, booked Chairman Gurmit Singh Mann, Rao, CFO Sanjay Tapriya, Executive Director Gursimran Kaur Mann and other company officials in connection with the bank fraud.
According to CBI officials, a bank loan of Rs 148.60 crore was sanctioned in 2011 to the private company for financing individuals, joint liability groups and self-help groups under a tie-up arrangement with a RBI scheme with regard to 5,762 sugarcane farmers supplying produce to the company from January 25 to March 13, 2012.
The accused, however, allegedly diverted funds for personal use. The account turned a Non-Performing Asset (NPA) on March 31, 2015, and finally the bank declared it a fraud on May 13, 2015, involving Rs 97.85 crore.
In addition to the existing NPA as of March 31, 2015, the bank, under multiple banking arrangements, sanctioned another corporate loan of Rs 110 crore to the sugar mill on January 28, 2015, to repay its outstanding loan of Rs 97.85 crore, and adjusted the total liability of Rs 112.9 crore of the company on June 30, 2016, by way of deposit of this new corporate loan.
The corporate loan, too, turned into an NPA on November 29, 2016.
The Enforcement Directorate has also registered a case on charges of money laundering against Simbhaoli Sugars Ltd’s Gurpal Singh, and 12 others, including Mann, Rao, Tapriya, Gursimran Kaur Mann and other company officials along with some bank officials.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.