To cheat IDBI bank to the tune of Rs 274 crore
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Chennai: Chennai: CBI on Friday registered a case against well-known industrialist and former cricket administrator from Chennai A.C. Muthiah, 75, and six others for alleged fraud and forgery committed by First Leasing Company of India Ltd from 2005 to 2013 to cheat IDBI bank to the tune of Rs 274 crore.
Muthiah was chairman of the firm during that period. The sleuths raided eight premises in Chennai and Hyderabad belonging to Muthiah and others and recovered incriminating documents. CBI also listed the then MD of the finance firm, Farouk Irani, then senior vice president S Dilli Raj, then CFO L Sivaramakrishna and two charted accountant firms — Shathy & Balu, and M.K. Dandeke & Co — in the accused list. The CBI has registered a case under Sec 120-B (criminal conspiracy) read with 420, 467, 468, 471 & 477 - A of IPC against the accused for cheating, forgery of valuable security, forgery for the purpose of cheating, using forged documents as genuine and falsification of accounts.
( Source : deccan chronicle )
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