Another loan defaulter has fled India: SBI

NEW DELHI: The State Bank of India (SBI) has filed a complaint with the Central Bureau of Investigation (CBI) against a Delhi-based basmati rice export firm, alleging its promoters, who cheated a consortium of six banks of ~414 crore, are missing and have fled the country.

According to the complaint, reviewed by HT, the owners of

Ram Dev International Limited (RDIL) are said to be missing since 2016 when an inspection was carried out by SBI.

The fereral agency registered a case on April 28 naming the owners — Suresh Kumar, Naresh Kumar and Sangita — and look out circulars (LOCS) have been issued against them, a procedure followed in all bank fraud cases, officials aware of the developments said on Saturday.

According to a proceedings of a case in the National Company Law Tribunal (NCLT) proceedings filed by a company named Mussadi Lal Krishna against RDIL for a payment default in 2018, it was informed that the promoters have fled to Dubai in t he United Arab Emirates (UAE).

Despite t he f r aud bei ng detected in 2016, SBI – the lead b a nk i n t he c o ns o r t i um – approached CBI in February this year after a delay of four years. A

SBI s pokesperson di d not respond to HT’S phone calls and text queries. RDIL representatives could not be traced by HT.

The exposure to banks was ~414 crore —SBI suffered a ~173 crore loss, Canara Bank ~76 crore, Union Bank of India ~64 crore; Central Bank of India ~51 crore, Corporation Bank ~36 crore, and IDBI Bank suffered a loss of ~12 crore.

Indian agencies, including the