The case involves a petition filed by Gangakhed Sugar and Energy Ltd. seeking the quashing of FIR No. RC074023E0001 dated 7th February, 2023, registered at Police Station BS&FB, Delhi. The FIR alleges offences punishable under Section 120B read with Section 420 of the Indian Penal Code, 1860, and Section 13(2) read with Section 13(1)(d) of the Prevention of Corruption Act, 1988. The petitioner, Gangakhed Sugar and Energy Ltd., is a company involved in the business of an Integrated Cane Processing Plant. The complaint was filed by the Central Bureau of Investigation (CBI) based on allegations of fraud related to credit facilities availed by the petitioner from a consortium of lenders led by UCO Bank. The account of the petitioner was classified as a Non-Performing
…Gangakhed Sugar and Energy Ltd. (the petitioner) is a company engaged in the business of an Integrated Cane Processing Plant in Maharashtra. A FIR No. RC074023E0001, dated 7th February, 2023, was registered against the petitioner at Police Station BS&FB, Delhi, alleging offences under Section 120B read with Section 420 of the Indian Penal Code, 1860, and Section 13(2) read with Section 13(1)(d) of the Prevention of Corruption Act, 1988. The FIR was based on a complaint filed by the Central Bureau of Investigation (CBI), alleging fraud related to credit facilities availed by the petitioner from a consortium of lenders led by UCO Bank. The banks sanctioned a term loan of Rs. 100 Crore and a working capital limit of Rs. 15 Crores on 16th September, 2008. The account
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The case involves a petition filed by Gangakhed Sugar and Energy Ltd. seeking the quashing of FIR No. RC074023E0001 dated 7th February, 2023, registered at Police Station BS&FB, Delhi. The FIR alleges offences punishable under Section 120B read with Section 420 of the Indian Penal Code, 1860, and Section 13(2) read with Section 13(1)(d) of the Prevention of Corruption Act, 1988. The petitioner, Gangakhed Sugar and Energy Ltd., is a company involved in the business of an Integrated Cane Processing Plant. The complaint was filed by the Central Bureau of Investigation (CBI) based on allegations of fraud related to credit facilities availed by the petitioner from a consortium of lenders led by UCO Bank. The account of the petitioner was classified as a Non-Performing
…Gangakhed Sugar and Energy Ltd. (the petitioner) is a company engaged in the business of an Integrated Cane Processing Plant in Maharashtra. A FIR No. RC074023E0001, dated 7th February, 2023, was registered against the petitioner at Police Station BS&FB, Delhi, alleging offences under Section 120B read with Section 420 of the Indian Penal Code, 1860, and Section 13(2) read with Section 13(1)(d) of the Prevention of Corruption Act, 1988. The FIR was based on a complaint filed by the Central Bureau of Investigation (CBI), alleging fraud related to credit facilities availed by the petitioner from a consortium of lenders led by UCO Bank. The banks sanctioned a term loan of Rs. 100 Crore and a working capital limit of Rs. 15 Crores on 16th September, 2008. The account
…Banks sanctioned a term loan with a limit of…
The account of the petitioner was classified…
Sign in to view related legal provisions.