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Home Business CBI files case against Unitech MD in Canara Bank fraud case

CBI files case against Unitech MD in Canara Bank fraud case

The Central Bureau of Investigation (CBI) has registered a fresh case against Unitech MD Sanjay Chandra, his father Ramesh and brother Ajay in the alleged forgery of about Rs 198 crore from Canara Bank. CBI also conducted searches at several locations at the premises of the accused. Sanjay Chandra was released from Tihar Jail after 43 months on Friday after getting interim bail from the Delhi High Court on medical grounds. Several agencies including Delhi Police, CBI, ED are investigating against Unitech. Canara Bank has alleged that the company obtained loans on the basis of Chandra’s personal and corporate guarantees, but later the company started defaulting on payments due to the slowdown in the real estate market.

Read more: The Times of India | India Today | Business Standard

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