CBI books 4 more cases against Patel group

Latest cases were registered in Madurai for Rs 37 crore based on complaints from the regional manager of the StateBank of India.

In each of the four fresh cases registered this month, the agency has charged the firms of cheating the bank of Rs 9.25 crore. In these four cases, CBI has listed Surya Agency, a firm coming under the Patel group, and its partners; Karpaga Vinayaga & Co, another firm linked to Patel group, and its partners; Vasani Wood Works; and Balaji Associates and its partners. Together, the nationalised bank has alleged a fraud of Rs 37 crore.

The cases were registered under various sections for criminal conspiracy, forgery for cheating, using forged documents as genuine and also criminal misconduct bypublic servants.

The investigating agency had already registered cases against Patel & Company, Madhav Industries, Surya Timber Traders, Dhananjay Traders. In that case, the complaints were lodged by the Corporation Bank and Andhra Bank. In thefirst FIR registered in November last year the CBI had booked as many as 27 people with the surname ‘Patel’.

Last November, Corporation Bank had lodged a complaint alleging loan fraud by the Patel group, involved in timber trade, to the tune of Rs 325 crore. Four more cases were registered against various firms coming under same group based on complaint from Andhra Bank in connection with Rs 50 crore loan fraud.