Rs 1.2 billion fraud: Members of SBM’s sales team are consulted by the CCID

The Covid-19 has the Central Criminal Investigation Department (CCID) investigation into the loan of 30 million US dollars or 1.2 billion rupees at the then exchange rate, which was granted by the SBM in Renish between March and June 2018, greatly slows down Petrochem. The sole shareholder of the Dubai-based company is the Indian businessman Hiteshkumar Chinubhai Mehta. He simply passed out in the wild after collecting the money.

After hearing the “credit underwriters” of the island’s second bank, the team of the Deputy Police Commissioner (ACP), Hemant Jangi, will interview members of the island’s “sales team” in the coming days. It will be a matter of locating the responsibilities surrounding this loan.
This investigation began a little over two years ago following a complaint filed by the SBM. Members of the credit committee were heard late last year to explain how Renish Petrochem was able to obtain this amount of credit for no consideration. A dozen bank executives were interviewed, as well as former chairman of SBM Holdings, Kee Cheong Li Kwong Wing.
Hiteshkumar Chinubhai Mehta was a “regular” customer of the SBM, which took out large loans. His request for $ 30 million for a project to buy and sell petroleum products to a Sri Lankan company on November 12, 2017 was like a letter in the mail.