The Central Bureau of Investigation has registered a case and conducted raids on Friday 26 June at the premises of Delhi based Moser Baer Solar Limited and others including its Directors Dipak Puri and Ratul Puri, guarantors, other unknown persons & bank officials in a Rs.787.25 cr. (Rs 7870 million or 7.87 billion) bank fraud case linked to Punjab National Bank and other consortium of banks.
It is alleged that those accused in this scam had cheated the Punjab National Bank led consortium comprising PNB (lead bank), SBI, Exim Bank, Indian Overseas Bank, Central Bank of India, Union Bank of India, and Bank of Baroda to the tune of Rs.787.25 crore (approx) by way of diversion of bank funds, sham transactions and inflated security deposits.
Search and seizure operations have been conducted on Friday at seven locations in Delhi, Noida, Ghaziabad & Annupur (Madhya Pradesh) at the premises of the accused including the Directors and the Moser Baer Solar Limited which led to recovery of several incriminating documents and digital evidences. The investigation is continuing.
The Enforcement Directorate (ED) had earlier arrested Ratul Puri, the nephew of former Madhya Pradesh Chief Minister Kamal Nath on 19 August 2019. He was later granted bail by a trial court in Delhi. Charge against him: receiving kickbaks in the Agusta Westland VVIP chopper scam.