Hyderabad: The Central Bureau of Investigation (CBI) has booked a cheating case against the city-based Meena Jewellers Exclusive Private Limited (MJEPL). The managing director Umesh Jethwani and two of its directors Hema U Jethwani and Karan U Jethwani have also been booked for for allegedly cheating State Bank of India (SBI).
Acting on a complaint from SBI Deputy General Manager GV Sastry, the CBI registered the case against Meena Jewellers Managing Director and two directors under Sections 120B (criminal conspiracy) read with 420 (cheating), 468 (forgery) and 471 (Using as genuine a forged document) of Indian Penal Code (IPC).
The fraud came into light after a forensic audit conducted by a private firm submitted its report on February 2, 2021.
The bank officials have alleged that the fraud took place while the account was maintained at SBI Overseas Branch in Hyderabad where the accused have illegally diverted the funds, with an objective to defraud the bank.
The account of the company was classified as fraud by the SBI’s fraud identification committee in Mumbai during its meeting conducted on March 25, 2021.