August 7th 2023.
The Central Bureau of Investigation (CBI) has registered a case against an Ahmedabad-based private company, its directors, and other unknown public servants, for allegedly causing a loss of approximately Rs 46.79 crore to the Union Bank of India, Ahmedabad branch. The company, Greendiamz Biotech Pvt Ltd., was identified along with the accused, Champat Rikhabchand Sanghavi, Deepak Champat Sanghvai, and Ashwin R Shah.
The CBI's investigation into the matter revealed that the company and the accused had been allegedly diverting/siphoning off funds using falsified information and documents. As such, they have been charged with criminal breach of trust, cheating, and misappropriation of public funds.
To further investigate the matter, the authorities carried out searches at multiple locations in Ahmedabad, including the premises of the accused, which led to the recovery of incriminating documents.
Additionally, the Bombay High Court has ordered for a Special Investigation Team (SIT) to lead the investigation into the Mumbai builder fraud case. The Joint Commissioner of Police (Crime) has been appointed to head the SIT, and no coercive action shall be taken in the matter. The SIT will be responsible for probing the charges of fraud against the builder.
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