News > CBI books GTL for cheating, bank fraud in ₹4,760 crore credit facilities

CBI books GTL for cheating, bank fraud in ₹4,760 crore credit facilities

27/01/2023 11:07 AM | Click to read full article

The CBI has filed an FIR against telecom infrastructure major GTL for allegedly diverting a substantial portion of a ₹4,760 crore loan availed from a consortium of banks led by IDBI Bank, officials said. According to the FIR, the company allegedly diverted or siphoned off a majority of the loan amount in conspiracy with its vendors, unidentified bank officers, among others. The IDBI Bank conducted a special audit of the company in 2011 and raised the issue of suspicious transactions with the vendors.

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