CBI case against hospital,promoter for bank fraud

The case has been registered on the allegation that “The hospital was sanctioned a term loan of Rs 6.5 crore by State Bank of India,Commercial Branch,Nehru Place,New Delhi in 2006 for setting up a 150 bed hospital at Delhi Hapur bypass,Ghaziabad,” the source said.

“The loan which was to be used for construction of a hospital building and purchase of medical equipments was not utilised for the intended purpose and instead the promoter of the hospital diverted or siphoned off the loan amount through the accounts of two of his companies,” a CBI spokesperson said.

He said false invoices of both these companies were submitted to the bank to show purchase of medical equipments by the accused promoter. On default in repayment,the loan amount of the hospital turned into Non-Performing Assets (NPA) in 2008 with total outstanding of Rs 6.44 crore.

“Search was conducted at the residence of the hospital promoter in which several incriminating documents were seized,” he said.