Another bank scam exposed

New Delhi Feb 26: Currently it's scams season as one more scam has been unveiled. Recently Nirav Modi scam has rocked the nation. Currently another scam of loot of Rs 109 cr to the Oriental Bank of Commerce by Simbhaoli Sugars Limited a private sugar-manufacturing mill in Uttar Pradesh's Simbhaoli.

The CBI had registered a case against Deputy General Manager Gurpal Singh, who is the son-in-law of Punjab Chief Minister Captain Amarinder Singh, CMD, CFO, CEO and directors, and unknown bank officials.

CBI has said that "it has invoked sections dealing with criminal conspiracy, cheating, and provisions of Prevention of Corruption Act against the accused. The agency also carried out searches at eight premises, including the residences of directors, factory, corporate office and registered office of the company in Delhi, Hapur, and Noida on Sunday."