CBI books ground handling company for cheating SBI
The CBI has booked the CMD and the CEO of Mumbai-based ground handling company Livewel Air Team Pvt Ltd for allegedly cheating State Bank of India to the tune of Rs 70 crore by submitting forged documents for availing loans which remained unpaid, officials said on Wednesday.
The CBI in its FIR named Chairman and Managing Director Manek Daver and Chief Executive Officer Burzin Daver besides the company as accused.
The agency has alleged that between 2015 and 2017, the company and its directors "hatched a criminal conspiracy" to commit forgery and to cheat the State Bank of India.
The website of the agency claims it has footprints in five countries -- the UK, the UAE, Malaysia and Singapore besides India. It also claimed to be the first company for ground handling of biggest Airbus aircraft A380 at Terminal 3 of Delhi Airport in 2010.
The CBI has alleged that they created forged documents and signatures of an auditor on financial statements submitted to the Bank for availing credit facilities, the FIR said.
Based on these forged documents, the company "induced the bank" to avail credit facilities to the tune of Rs 61 crore during the period.