CBI screws on famous film maker, case for fraud of crores from bank
[ad_1]
Mumbai (Best Hindu News): The CBI has registered a case against film maker Jaspreet Singh Walia alias Bunty Walia in an alleged bank fraud case involving a loss of over Rs 119 crore to IDBI Bank. Officials said the case pertains to a loss of over Rs 119 crore to IDBI Bank.
In its complaint, the bank alleged that GS Entertainment Pvt Ltd (GSEPL) was sanctioned a foreign currency loan (FCL) of US$ 2.35 million (equivalent to Rs 10 crore then) and a term loan (RTL) of Rs 4.95 crore in June 2008. Went. The loan was given on personal guarantees of Walia and others under the Film Finance Scheme for the production of Hindi film ‘Lamha’ starring film stars Sanjay Dutt, Bipasha Basu.
The bank alleged that as per the original schedule the film was to be released in 2009 but got delayed since March 2009 due to a dispute between the promoters and the producers. Thereafter, the loan became a non-performing asset (NPA) as on September 30, 2009. The bank has accused GSEPL of cheating, falsification of records, misappropriation of public money, misrepresentation and criminal breach of trust.
The CBI has registered a case against Walia, GSEPL and others under provisions of the Prevention of Corruption Act along with sections related to criminal conspiracy, cheating and forgery.
[ad_2]
Source link
