Daijiworld Media Network - New Delhi
New Delhi, Jun 14: The Central Bureau of Investigation (CBI) has filed an FIR against Supertech Limited and several of its top officials in connection with a major bank fraud case involving IDBI Bank. The real estate firm and its directors are accused of cheating, forgery, and criminal misconduct, causing a reported loss of Rs 126.07 crore to the bank.
The FIR was registered by the Bank Securities and Fraud Branch of the CBI, following a complaint from Hari Kumar Meena, Deputy General Manager of the NPA Management Group at IDBI Bank in New Delhi. In his complaint, Meena alleged that the accused were involved in a criminal conspiracy to siphon off loan funds sanctioned by the bank.
According to the complaint, IDBI Bank had extended a term loan of Rs 200 crore to Supertech in 2014 under a consortium arrangement with Union Bank of India. The repayment was structured in 11 equal quarterly instalments starting from March 2017. However, Supertech allegedly defaulted, leading to an outstanding amount of over Rs 126 crore.
The CBI’s case names Supertech Limited as one of the 10 accused. Prominent individuals named in the FIR include Ram Kishor Arora, Sangita Arora, Mohit Arora, Anil Kumar Sharma, Vikas Kansal, Pradeep Kumar Goel, Anil Kumar Jain, and Parul Arora. The case also involves unknown public servants, suggesting deeper scrutiny into the roles of officials who may have facilitated the fraud.
The allegations cover a wide range of offences, including misappropriation of funds, manipulation of books of accounts, use of forged documents, and criminal breach of trust. The bank has accused Supertech and its leadership of fabricating financial statements and misusing the loan for purposes other than those stated, thereby deceiving the lender.
This development follows an April directive from the Supreme Court, which ordered a CBI probe into Supertech’s dealings with multiple banks over delayed housing projects. The court, taking note of mounting complaints from homebuyers, denounced the “unholy nexus” between builders and financial institutions that has left thousands of consumers financially and emotionally distressed.
With the CBI now formally investigating the case, Supertech finds itself at the center of yet another legal storm — one that could have far-reaching implications for accountability in India’s real estate and banking sectors.