Guwahati: The Income Tax (IT) searched the proprietors of Ghosh Brothers Automobiles’ homes in Spanish Garden and Manik Nagar on Tuesday.
In a bank fraud case involving Rs 168 crore, IT filed a case against Guwahati-based Ghosh Brothers and its promoters and directors earlier this month.
Name of the people detained
Pranab Kumar Ghosh, Pratul Kumar Ghosh, Gita Rani Ghosh, Prabir Kumar Ghosh, and all Ghosh Brothers Automobiles promoters-directors have been arrested.
Workforce of an unnamed bank
Apart from them, the IT has named CA Arunabha Chattopadhyay, as well as unidentified bank employees, and private individuals.
Based on a complaint from IDBI Bank, the agency filed a case for inflicting a loss of Rs 168.62 crore.
A private company based
It is alleged that a term loan and cash credit facility of Rs 64.67 crore were illegally granted by IDBI Bank, Guwahati Branch to a private firm situated in Guwahati for acquiring automobiles.
Logging fabricated evidence
However, the loan was obtained through logging fake papers, and the accused diverted funds for purposes other than those for which the loan was approved, resulting in a loss to the bank of Rs 168.62 crore as of January 31, 2021.
Long overdue equilibrium
The overdue balance was Rs 153.38 crore as of July 1, 2020, and the account became NPA owing to non-payment of dues to the Bank.
