Archive · 7 Jan 2026
CBI Probes ₹11.33 Crore NABARD Loan Fraud
The Central Bureau of Investigation (CBI) is looking into a case where a private company and its leaders might have tricked NABARD, a bank that helps farmers and rural areas, into giving them a big loan.
The loan was supposed to be used to start a food processing business, but the company didn't use the money for that.
Instead, they allegedly took the money for themselves, causing a loss of ₹11.33 crore to the bank.
The CBI is now investigating to find out what happened and who is responsible.
The CBI is investigating a private company and its directors for allegedly causing a wrongful loss of ₹11.33 crore to NABARD.
The company availed credit facilities amounting to ₹11.97 crore for establishing multi-product processing units.
Initial term loan of ₹7 crore was sanctioned in August 2020 and disbursed in 2021 and 2022.
Additional term loan of ₹4.97 crore was sanctioned in February 2023 and disbursed in April 2023.
The accused allegedly diverted and misused the loan funds for personal gain, causing a loss of ₹11.33 crore to NABARD.
- Who
- The Central Bureau of Investigation (CBI) is investigating a private company and its directors, promoters, and guarantors from Nandurbar, Maharashtra, and Madhya Pradesh (MP).
- What
- The CBI is probing an alleged ₹11.33 crore loan fraud involving NABARD and a private company.
- When
- The initial loan was sanctioned in August 2020, with additional loans sanctioned in February 2023 and disbursed in April 2023.
- Where
- The case involves a borrower firm situated in Sendhwa, MP, and its directors, promoters, and guarantors from Nandurbar, Maharashtra, and Madhya Pradesh (MP).
- Why
- The accused allegedly diverted and misused the loan funds for personal gain, causing a wrongful loss of ₹11.33 crore to NABARD.
- Total Loan Amount
- ₹11.97 crore
- Initial Loan Sanctioned
- ₹7 crore (August 2020)
- Additional Loan Sanctioned
- ₹4.97 crore (February 2023)
- Alleged Loss to NABARD
- ₹11.33 crore
- Complainant
- Ashok Kumar, Deputy General Manager, NABARD Gujarat Regional Office
- Accused
- Private company, its directors, promoters, and guarantors
- Location
- Nandurbar, Maharashtra, and Madhya Pradesh (MP)