How did govt agencies crack Diamond Power Infra-s Rs 2650 crore fraud? - letsdiskuss
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Rakesh Singh

Delhi Press | Posted on | News-Current-Topics

How did govt agencies crack Diamond Power Infra-s Rs 2650 crore fraud?


News reporter (CEN News ) | Posted on

Few days back, the whole nation woke up to the news of the Central Bureau of Investigation (CBI) conducting raids against a Vadodara firm for a Rs. 2,654 crore fraud.

Diamond Power Infrastructure Ltd. and its directors were booked by the Central Bureau of Investigation (CBI) and the way CBI cracked this case is sheer commendable, the entire system acted swiftly which is quite exemplary.

Based on a tip-off, the Prime Minister's Office (PMO) directed the Ministry of Finance, CBI, and Enforcement Directorate (ED) to look into the matter. The agencies investigated the matter and the results of the investigation were promptly shared with various divisions of the Finance Ministry.

The Finance Ministry also came in action and directed the banks for full details and filing of the First Information Report (FIR). Then, the Bank Of India filed a complaint to the CBI, within a week. After this, the CBI raided Diamond Power Infrastructure Ltd. and booked its directors.

According to sources, the company and its directors managed to get fraud loans and credit facilities, despite the fact that they were defaulters on the list of the Reserve Bank of India (RBI).



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