CBI books IL&FS Transportation Limited for ‘causing loss’ of over Rs 6,524 Cr to Canara Bank-led consortium
The CBI has filed an FIR against IL&FS Transportation Network Limited and its then directors for allegedly causing a loss of more than Rs 6,524 crore to a Canara Bank-led consortium, officials said on Friday.
In its FIR, the Central Bureau of Investigation (CBI) has booked Mumbai-based IL&FS Transportation Network Limited (ITNL) and its directors Karunakaran Ramchand, Deepak Das Gupta, Mukund Gajanan Sapre and then chief financial officer (CFO) Dilip Lalchand Bhatia for alleged criminal conspiracy and cheating as well as under the provisions of the Prevention of Corruption Act.
It is alleged that the accused entered into a criminal conspiracy to cheat 19 banks under multiple banking arrangements (the Canara Bank being the largest lender).
