Promoters' bail plea rejected in cheating consortium of banks case
New Delhi [India], June 15 (ANI): A Delhi Court on Thursday rejected the bail plea of promoters Sanjay Jain and Rajeev Jain in cheating consortium of banks case.
Earlier this year in April, the Central Bureau of Investigation (CBI) arrested Sanjay Jain, Rajiv Jain, Rohit Choudhary and Sanjeev Agarwal in connection with cases relating to cheating a consortium of banks to the tune of Rs. 2,240 crore.
According to reports, the duo allegedly used multiple shell companies to launder funds availed through a consortium of banks led by the PNB.
The CBI investigation exposed that Rajeev and Sanjay fraudulently used more than 100 shell companies for round tripping and diversion of bank funds. (ANI)