Kanishka Jewelers Fraud Of 824 Crores

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CHENNAI: Chennai-based jeweller Kanishk Gold Pvt Ltd (KGPL) has been accused of defrauding a consortium of 14 banks led by the State Bank of India (SBI) to the tune of Rs 824.15 crore in the form of loans that have now been declared as non-performing asset (NPA).

State Bank of India has requested the help of the CBI in January to investigate jewellery chain Kanishk Gold Pvt Ltd for loan fraud to the tune of Rs 824.15 crore. Directors of the KGPL, Bhoopesh Kumar Jain, and his wife Neeta Jain may have fled the country.

Bank List: Kanishka Jewelers Fraud

State Bank of India (SB) (Rs 240 Crore)
Punjab National Bank (PNB) (Rs 128 crore)
Bank of India (Rs 46 crore)
IDBI (Rs 49 crore)
Syndicate Bank (Rs 54 crore)
Union Bank (Rs 53 crore),
UCO Bank (Rs 45 crore)
Central Bank (Rs 22 crore)
Corporation Bank (Rs 23 crore)
Bank of Baroda (Rs 32 crore)
Tamil Nadu Mercantile Bank (Rs 27 crore)
HDFC (Rs 27 crore)
ICICI Bank (Rs 27 crore)
Andhra Bank (Rs 32 crore).