CBI Arrests Mumbai Developer in Rs 280 Crore SBI Fraud Case
The Central Bureau of Investigation (CBI) has arrested Harresh Mehta, a prominent developer from South Mumbai and head of Rohan Lifespaces Ltd, in connection with a fraud case involving the State Bank of India (SBI). Mehta was apprehended by the Economic Offences Wing (EOW) of the CBI for allegedly defrauding the public sector bank of Rs 280 crore.
The investigation began in 2016 following a complaint from SBI’s Thane branch against Vijay Gupta and Ajay Gupta, the Directors of Rajput Retail Ltd (RRL). The complaint alleged that RRL secured three separate loans using forged documents and defaulted on repayments, leading to a loss of Rs 280 crore for the bank.
According to the CBI’s First Information Report (FIR), the fraud involved a conspiracy between RRL’s directors and unknown government officials. In July 2018, the CBI filed a chargesheet against the accused.
The probe later revealed the involvement of Harresh Mehta and his companies, Rohan Lifespaces Ltd and Rohan Constructions Ltd. Following this, searches were conducted at Mehta’s offices and residences, as well as at the premises of Ruby Mills Ltd. Mehta is currently in judicial custody as the investigation continues.
News Source : “Information for this article was gathered from a variety of reliable news outlets.”
