CBI quizzes Amarinder's son-in-law in Simbhaoli scam case

The Central Bureau of Investigation today questioned Punjab Chief Minister Amarinder Singh's son-in-law Gurpal Singh in connection with the alleged bank fraud case of Rs 97.85 crore by Simbhaoli Sugars Limited, officials said.

Former Chief Executive Officer G S C Rao has also been quizzed by the agency, they said.

The CBI had registered a case against the sugar mill, its Chairman Gurmit Singh Mann, the then (in 2015) Deputy Managing Director Gurpal Singh (now director) and others in connection with the alleged bank loan fraud case.

Simbhaoli Sugars Limited is one of the largest sugar mills in the country.

Rao, the then CFO Sanjay Tapriya, the then Executive Director Gursimran Kaur Mann and five non-executive directors were also booked by the agency.

The CBI had carried out searches at eight premises including residences of the directors, factory, corporate office and registered office of the company in Delhi, Hapur and Noida.

The probe focuses on two loans -- Rs 97.85 crore which was declared fraud in 2015 and another corporate loan of Rs 110 crore which was used to repay the previous loan.

The second loan was declared Non Performing Asset (NPA) on November 29, 2016, nearly 20 days after scrapping of Rs 1,000 and Rs 500 notes was announced, according to the CBI FIR.

The bank was allegedly cheated to the tune of Rs 97.85 crore, but the loss incurred by the bank was Rs 109.08 crore, the FIR read.  -- PTI