India

Major Bank Fraud Case Of ₹3,847 Crores Registered Against Unity Infra Projects Limited By CBI

The Central Bureau of Investigation (CBI) has filed a case against Unity Infra Projects Limited for alleged bank fraud. The investigative agency has filed charges against the company’s promoters Kishor Krishn Avarsekar, Abhijeet Kishor Avarsekar, Ashish Avarsekar (Executive Director), and several other officials.

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Case in connection

The investigation agency has registered this case in connection with an alleged fraud of Rs 3,847 crore with a consortium of 16 banks. The agency had been keeping a close watch on these promoters for a long time. After filing the case against the company, the investigative agency will further proceed with its actions.

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In this case

In this case, on August 17, 2023, Rajnikant Thakur, DGM (Mumbai) of the State Bank of India, had lodged a written complaint against Unity Infra Projects, its directors, and promoters, accusing them of a Rs 3,847 crore fraud.

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