Pune: CBI Registers Case Against KJ Infrastructure Projects For Duping Union Bank of Rs 91.92 Crore

Pune, 6th July 2023: The Central Bureau of Investigation (CBI) has registered a case on a complaint from Union Bank of India, Pune, against a private company;(Borrower Company) based at Pune (Maharashtra) and others, including its Directors, other private company & unknown Public Servant(s)/Private Persons.

Name of the accused:-

i) M/s. K J Infrastructure Projects India Pvt. Ltd., Pune, Maharashtra(Borrower

Company)

ii) Sh. Kalyan J Jadhav, Director,

iii) Sh. Kalyan Eknath Kakade, Director,

iv) Sh. Santosh Sambhaji Dhumal, Director,

v) Sh. Amol Maruti Paigude, Director,

vi) M/s. Wing Infrastructure Engineering Pvt. Ltd.,

vii) Sh. Vinod Kalyan Jadhav

viii) Unknown Public Servant(s) and Private Persons.

It was alleged that said borrower company & its promoters availed credit facilities from Union Bank of India on the basis of manipulated stocks-book debts statements, financial statements with inflated figures / over stating sales, income & profit in order to draw higher volume of amounts from the bank and thereby, diverted the proceeds into the accounts of its related & associated companies without its end utilization. An alleged loss to the to the tune of Rs 91.92 crore(approx) was caused to Union Bank of India.

Searches were conducted at various places in and around Pune District which led to recovery of incriminating voluminous documents, hard disks, electronic gadgets etc. from the premises of accused.