CBI Nabs Proclaimed Offender in Rs 21 Crore Loan Fraud Case

The Central Bureau of Investigation (CBI) arrested Surender Kumar, a proclaimed offender, in connection with a Rs 21 crore loan fraud involving Bank of Baroda and Standard Chartered Bank. Kumar, accused of diverting the loans to his firms using forged documents, was apprehended in Kamla Nagar and placed in judicial custody.

The Central Bureau of Investigation (CBI) has arrested a man linked to a Rs 21 crore loan fraud case involving Bank of Baroda and Standard Chartered Bank. The apprehended suspect, Surender Kumar, was declared a proclaimed offender in August 2023.

According to officials, Kumar allegedly moved the loans to his firms on the basis of forged Letters of Credit (LC) and conspired with company promoters to divert funds between 2009-2017. The CBI had charged eight individuals in this case in December 2022.

After evading investigation and trial proceedings, Kumar was captured in Kamla Nagar. He has been placed in judicial custody until September 27, 2024. Another proclaimed offender, Mohit Shah, was arrested earlier in the same case and remains in custody.

(With inputs from agencies.)