CHENNAI: The Central Bureau of Investigation (CBI) has launched an investigation against a former executive director of Bharat Heavy Electricals Limited (BHEL) running his own company for cheating a bank of Rs 6.3 crore.
\nThe Madurai branch of CBI registered a case against K Manickam, his firm Hi-Tech cranes and his wife P Maragatham last week for criminal conspiracy, cheating and forgery based on a complaint by Canara Bank.
\nAn internal fraud investigation by the bank, a copy of which was submitted to the CBI, showed that the firm did not pay back Rs 6.3 crore borrowed as loan or its interest. The firm, Hi-Tech cranes, had falsely claimed to have Rs 2.11 crore in pending payments from BHEL, for whom it was a vendor, while the investigation found that only Rs 18.86 lakh was owed. Manickam had submitted a letter of a senior BHEL official and some bills to show pending payments to back his claim, both of which were found to fake.<\/p>\n","protected":false},"excerpt":{"rendered":"
CHENNAI: The Central Bureau of Investigation (CBI) has launched an investigation against a former executive director of Bharat Heavy Electricals Limited (BHEL) running his own company for cheating a bank of Rs 6.3 crore. The Madurai branch of CBI registered a case against K Manickam, his firm Hi-Tech cranes and his wife P Maragatham last week for criminal conspiracy, cheating and forgery based on a complaint by Canara Bank. An internal fraud investigation by the bank, a copy of which was submitted to the CBI, showed that the firm did not pay back Rs 6.3 crore borrowed as loan or […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,246,137],"tags":[],"class_list":["post-286044","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/286044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=286044"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/286044\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=286044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=286044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=286044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}