New Delhi (India), 25th April 2023: In a case of suspected deception that resulted in a loss of more than Rs 405 crore to State Bank of India, the CBI has charged Pramod Goenka, the missing brother of DB Realty Managing Director Vinod Goenka, and his company Yash Jewellery, according to officials on Monday.
The CBI FIR relates to credit facilities provided by SBI to Pramod Goenka-owned Yash Jewellery, which allegedly went unpaid in 2014, converting the account into a non-performing asset.
According to the FIR filed in response to a complaint from SBI, Pramod Goenka, Rustom Ariez Tata, and Anant L. Prabhudesai conspired to defraud the bank by allegedly persuading it to approve loans totalling Rs 235 crore, which they then reportedly syphoned off, resulting in a loss of Rs 405.58 crore.
According to the bank, Yash Jewellery was founded in 2007 in partnership with New York’s Andin International Inc., which held 40% of the equity. Promoters acquired a stake in Andin International Inc. in 2008.
The Bank said, “…Pramod Goenka, holding shares of DB Realty, is reported missing since February 2018. We do not have any information on the present status of any share of DB Realty held by him.”
The 56-year-old businessman from Mumbai vanished in 2018, and interestingly enough, it is believed that he was abducted by an African gang in Maputo, Mozambique.
