Archive · 3 Oct 2025
CBI Court Denies Bail in Rs 37.95-Crore Bank Fraud
Two men, Gaurav and Keshav Mahajan, are in trouble for allegedly tricking a bank.
They are accused of taking out loans for their rice mill, Sahowalia Rice Mills Pvt Ltd, using fake information.
The bank, Bank of India, gave them more and more money over a few years, but the company didn't pay it back.
The bank tried to get its money back by selling off some things the company owned, but it's still owed a lot of money.
The CBI (like a special police force) investigated and the court decided the men couldn't be let out on bail right now.
A CBI court denied bail to two Gurdaspur residents.
The case involves a fraud of nearly Rs 37.95 crore from the Bank of India.
The fraud is linked to Sahowalia Rice Mills Pvt Ltd.
Loans were obtained using false documents.
The account was declared a non-performing asset by 2014.
- Who
- Gaurav Mahajan and Keshav Mahajan, Sahowalia Rice Mills Pvt Ltd, Bank of India.
- What
- CBI court rejected bail applications in a bank fraud case.
- When
- Between 2011-2013 (loan enhancement), 2014 (NPA declaration), and 2022 (CBI registration).
- Where
- Gurdaspur and a CBI court.
- Why
- The loans were obtained through false documents and misrepresentation, leading to a fraud of Rs 37.95 crore.
- Defendants
- Gaurav Mahajan and Keshav Mahajan
- Company Involved
- Sahowalia Rice Mills Pvt Ltd
- Bank
- Bank of India
- Fraud Amount
- Rs 37.95 crore
- Case Registered
- 2022 by CBI
- Account Status
- Declared NPA by 2014