The CBI has filed an FIR against Cethar Limited and its Chairman K Subburaj and Managing Director NK Pothiraj for allegedly cheating Canara Bank.
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The CBI has filed an FIR against Cethar Limited and its Chairman K Subburaj and Managing Director NK Pothiraj for allegedly cheating Canara Bank to the tune of Rs 163 crore in loan defaults, officials said on Monday.
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The company started operating in 1981 in Tiruchirappalli and is engaged in building industrial boilers, power sector equipment among others. It had availed credit facilities worth over Rs 1344.96 crore from a consortium of eight member banks led by Indian Bank, they said.
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