LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

CBI books kidswear retailer Catmoss MD Ashwini Kumar Chawla for Rs 20 crore fraud

The CBI has booked the chief managing director of Catmoss Retail Pvt Ltd Ashwini Kumar Chawla and the firm's directors for allegedly cheating Union Bank of India to the tune of Rs 20 crore. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
CBI books kidswear retailer Catmoss MD Ashwini Kumar Chawla for Rs 20 crore fraud
The CBI has booked the chief managing director of Catmoss Retail Pvt Ltd Ashwini Kumar Chawla and the firm's directors for allegedly cheating Union Bank of India to the tune of Rs 20 crore. Source: PTI
Written By: PTI
Updated: Wed, Dec 26, 2018
11:21 am
PTI
RELATED NEWS
'Rs 3,269.42 crore bank fraud case': Inquiry against Shakti Bhog foods begins, CBI raids 8 places 'Rs 3,269.42 crore bank fraud case': Inquiry against Shakti Bhog foods begins, CBI raids 8 places
CBI books former CMD of Hindustan Steelworks in bribery case CBI books former CMD of Hindustan Steelworks in bribery case
Money laundering case: Court orders ED to expedite extradition process of Sanjay Bhandari from the UK Money laundering case: Court orders ED to expedite extradition process of Sanjay Bhandari from the UK
CBI conducting searches across the country in bank fraud cases CBI conducting searches across the country in bank fraud cases
Big setback to P Chidambaram! SC rejects petition against Delhi HC order, calls it 'infructuous' Big setback to P Chidambaram! SC rejects petition against Delhi HC order, calls it 'infructuous'

The CBI has booked the chief managing director of Delhi-based kidswear retailer Catmoss Retail Pvt Ltd Ashwini Kumar Chawla and the firm's directors for allegedly cheating Union Bank of India to the tune of Rs 20 crore, officials said on Tuesday.

It is alleged that the company and its officials fabricated balance sheets to avail a loan which was not repaid to the bank, they said. Following a complaint by the bank, the CBI has registered a case of criminal conspiracy and cheating against the company Catmoss Retail Pvt Ltd, Chawla, his wife and guarantor Asha Rani Chawala and the firm's directors Reena Chawla and Asha Rani Chawla, they said.

In its complaint to the CBI, Union Bank of India alleged that the company furnished "forged and fabricated" balance sheets with an intention to cheat and cause wrongful loss to it. "CMD of Catmoss Retail Pvt Ltd Ashwini Chawla, in pursuance of a well knitted criminal conspiracy to fraudulently avail loan facility from the complainant bank by furnishing forged and fabricated balance sheets, has committed offences like cheating, forgery, forgery for purpose of cheating and using as genuine a forged document," it said.

It is alleged that Chawla had approached the bank in 2011 seeking a sanctioned credit limit of Rs 10 crore. The company furnished balance sheets for the financial years 2009-10 and 2010-11 to the bank which were audited by a chartered accountant.

The account was declared a non performing asset on March 31, 2013, having an outstanding of Rs 10.92 crore. The bank extracted a portion of its loan amount by auctioning some properties which it had held as guarantee.

During the inquiry, the chartered accountant, who had purportedly signed the balance sheets, told the bank that it was not the case. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
CBI
RELATED NEWS
'Rs 3,269.42 crore bank fraud case': Inquiry against Shakti Bhog foods begins, CBI raids 8 places 'Rs 3,269.42 crore bank fraud case': Inquiry against Shakti Bhog foods begins, CBI raids 8 places
CBI books former CMD of Hindustan Steelworks in bribery case CBI books former CMD of Hindustan Steelworks in bribery case
Money laundering case: Court orders ED to expedite extradition process of Sanjay Bhandari from the UK Money laundering case: Court orders ED to expedite extradition process of Sanjay Bhandari from the UK
CBI conducting searches across the country in bank fraud cases CBI conducting searches across the country in bank fraud cases
Big setback to P Chidambaram! SC rejects petition against Delhi HC order, calls it 'infructuous' Big setback to P Chidambaram! SC rejects petition against Delhi HC order, calls it 'infructuous'

LATEST NEWS

7th Pay Commission Latest News: Check out these vacancies notified by UPSC; salary up to Rs 1,77,500 plus DA and other allowances

Google fires 150 game developers hired for Stadia: Report

ISRO First Mission in 2021: Indian rocket to launch Brazilian satellite, PM Modi picture on spacecraft, space privatisation and more

IIT Bombay releases GATE 2021 answer key—This is how you can check and raise objection

CBSE exam 2021: Class 10, 12 students should know THESE 10 points before appearing for board exams

Bank Holidays March 2021: RBI says banks will remain closed on these many days next month

Sovereign Gold Bond Scheme 2021: Issue Price fixed at Rs 4,662/gm

Ind vs Eng: Jasprit Bumrah released from squad for fourth Test

Stock Market Outlook: Nifty, Bank Nifty crucial levels REVEALED; Anil Singhvi explains key reasons behind massive fall

Petrol, diesel prices on February 27: Fuel prices hiked again today—check rates in your cities

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved