The Central Bureau of Investigation has booked Lekhraj & Sons and five others for allegedly cheating the Union Bank of India to the tune of ₹51.29 crore.
The other accused persons have been identified as Ashok Kumar Miglani, Arun Miglani, Siddharath Miglani, Surinder Kumar Miglani and Poonam Miglani.
The company is into milling, sorting, grading, export and sale of rice. In January 2013, the bank sanctioned credit facilities of ₹30 crore to it under sole-banking arrangement. The amount was increased in 2014 to ₹45 crore and then to ₹50 crore in 2017. However, the loan account turned non-performing asset (NPA) in October 2019 due to non-payment of dues.
The bank got done a forensic audit, which detected multiple financial irregularities. It is alleged that the company disposed of mortgaged assets without informing or taking permission from the bank.
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