One more bank defaulter has fled the country. Three promoters of Ram Dev International, who were recently booked by the CBI following a complaint by State Bank of India, are believed to have fled even before the fraud came to light.
The promoters are accused of cheating a consortium of six banks of ₹411 crore. The promoters Naresh Kumar, Suresh Kumar and Sangita owe SBI over ₹173 crore. The company was involved in the export of Basmati rice to West Asian and European countries. The company owes money to Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank too.
The company became a non-performing asset (NPA) for the bank on January 27, 2016 and a survey of its properties some months later revealed that the owners had already left the country. The company had plants in Karnal and offices in the UAE and Saudi Arabia.
The complaint by the bank alleged that the accused had even removed the machinery from the plant and it had also fudged its accounts to cheat the bank.