New Delhi Nov 14 (UNI) The Central Bureau of Investigation (CBI) on Friday said it has arrested Singapore-based businessman Rajesh Bothra in connection with a bank fraud case of Rs 31.60 crore.
“The arrest was made based on inputs about his arrival in India and by tracing him to Hotel Andaz and Hyatt Residences, Aerocity,” an official said.
The CBI said it had registered the case based on a complaint received from Punjab National Bank (PNB) against Frost Infrastructure and Energy Pvt. Ltd. (FIEL), its Directors, unknown persons, and unknown public servants for defrauding the bank of ₹31.60 crore by availing the FLC limit.
“Investigation so far has revealed that the accused Bothra played an active role in the conspiracy with the FIR-named company FIEL and its Directors by providing bogus Bills of Lading, falsely showing sale–purchase transactions of FIEL with FAREAST and Gulf Distribution Ltd. The forged Bills of Lading were submitted by FIEL to the bank, which enabled FIEL to siphon off the LC proceeds, causing a wrongful loss of approximately ₹32 crore to PNB (e-OBC),” the official said.
The official further added that the investigation has revealed FAREAST and Gulf Distribution Ltd. were actually controlled and operated by Bothra, and no real business or movement of goods took place as falsely indicated in the forged Bills of Lading. “Bothra also figures as an accused in other cases of the CBI, ACB Lucknow, in which he has been chargesheeted along with other accused persons. He never joined the investigation in those cases nor appeared during the trial,” the official said.
The CBI said Bothra was wanted in several other bank fraud and economic offence cases. “His arrest will ensure his examination in the case under investigation and his presence before the Trial Courts in chargesheeted cases, and prevent him from evading the process of law by leaving India,” the official added.
