Archive · 17 Jun 2025
CBI Books Metal Company for Defrauding PNB of Rs 247 Crore
Imagine a company borrowed a lot of money from a bank, but they didn't use the money the way they were supposed to.
Instead, they pretended things were okay by making fake documents and moving money around.
The company and its bosses are now in trouble because they took money from the bank and didn't use it properly.
The bank reported this and the CBI, like a special police for these types of cases, is now investigating.
They are looking into what the company did with the money and if they broke the rules.
This is a serious case of not being honest about money.
CBI booked Apple Industries and its directors for defrauding PNB of Rs 247 crore.
The case was registered following a complaint from Punjab National Bank.
The accused are charged with cheating, criminal breach of trust, and fund misappropriation.
The alleged fraud involves fabricating documents and diverting loan funds.
The company was sanctioned a credit facility in 2008, including a term loan and cash credit.
- Who
- Apple Industries, its promoter Pawan Kumar Garg, and other directors, were booked by the CBI.
- What
- CBI booked Apple Industries and its directors for defrauding Punjab National Bank.
- When
- The FIR was registered on June 4.
- Where
- The company has its registered office in Delhi and the fraud involved funds from PNB.
- Why
- The company and its officials are accused of cheating, criminal breach of trust, and misappropriating bank funds.
- Company Booked
- Apple Industries Limited
- Bank Defrauded
- Punjab National Bank (PNB)
- Amount of Fraud
- Rs 247 crore
- Promoter
- Pawan Kumar Garg
- Charges
- Cheating, criminal breach of trust, misappropriation
- Credit Facility Sanctioned
- 2008
- Loan Type
- Term loan and cash credit