Rs 220 crore bank fraud, IPL team owner among victims




The Enforcement Director wants to examine the chief financial officers or accountants of Rendezvous sports world pvt ltd, owner of Kochi Tuskers Kerala that played in the 2011 IPL, a listed firm PG Foils ltd, Essel shyam Technologies p ltd and a few other companies under the Prevention of Money Laundering Act (PMLA) in connection with an alleged Rs 220 crore fraud perpetrated by a top official of Mumbai based showman Group at Dena bank. 
                                                                        The fraud was detected when the fixed deposit holders contacted the banks with the deposit certificates that turned out to be fake. The case was transferred to the CBI, which filed its charge sheet in 2015. Kochi Tuskers Kerala played one season of the IPL in 2011 before being terminated from the T20 league by the BCCI for alleged breach of terms. The company said Barot along with certain bank officials have given it fake deposits receipts against their genuine fixed deposit and diverted their deposits.

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