This is the second such fraud case filed by CBI against the company
The company approached India Exim Bank for a credit facility to install machinery for a recycling project in the UK and the bank sanctioned USD 10 million. Earlier, CBI registered a Rs 93 crore bank fraud case against the company along with others on the complaint of Punjab National Bank (PNB). CBI alleged that Hanjer Biotech (Erith) Ltd, UK (that borrowed the credit facility and an accused in the case), had entered into an agreement with Navi Infrastructure Engineering Private Limited (NIEPL), one of the Hanjer Group’s existing suppliers, for the supply of machinery for its recycling project facility in the UK. You Can Also Check: Gold Rate in Mumbai | Silver Rate in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai | Mumbai AQI | Weather in Mumbai | Petrol Price in Mumbai | Diesel Price in Mumbai | CNG Price in Mumbai | LPG Price in Mumbai
Mumbai: CBI registered a second FIR against Hanjer Biotech Energies and also named its promoter Imran Furniturewala and others in the bank fraud case where the accused allegedly caused a USD 10 million loss to India Exim Bank, which is the complainant in the case. The company was engaged in the business of scientific treatment of municipal solid waste and converting it into organic compost, green fuel, sand and plastic granules in India and the UK.