According to sources, the Central Bureau of Investigation (CBI) has filed a FIR against the Delhi-based Horizon Solution for allegedly defrauding the Union Bank of India of over 46 crore in a loan fraud.
According to them, the CBI has filed criminal conspiracy, cheating, forgery, and anti-corruption act charges against the East of Kailash-based company, its owner Zeba Urfi, and guarantor Zaib Un Nisa.
According to the agency, the company, which sells and installs IT hardware systems, put up plots in Dasna, Ghaziabad, worth millions of rupees, as collateral when applying for loans.
The bank decided to sell the properties to make up for its losses when the account became a non-performing asset (NPA) in 2013, but the CBI claims that when it did, it learned that the properties had already been sold without the bank’s required approval.
As stated in its complaint, Union Bank of India, “The aforesaid persons have committed serious criminal offences by fraudulently selling the mortgaged property without the bank’s knowledge or consent and with a dishonest intention to cause wrongful gain to themselves and to cause wrongful loss to the bank, to cheat the bank and misappropriate the funds.” The bank alleged that borrowers, guarantors and their accomplices conspired together from the very inception to obtain the credit facilities and swindle the same.