The News Minute | July 25, 2014 | 08:53 am IST
The Central Bureau of Investigation (CBI) has registered a preliminary inquiry against some officials of the Adani group and is probing an alleged over invoicing fraud of Rs 2300 crore, reports the DNA.
The Adani group has availed credit facilities from various banks including State Bank of India, Vijaya bank and Punjab National Bank, for procuring power generation and transmission equipment from vendors in China and South Korea, by overvaluing the original price.
CBI is also investigating involvement of bank officials in helping Adani group allegedly avail loan facilities by showing inflated invoices, further states the report.
With IANS