Soon after the CBI filed a case against celebrity jewellery designer Nirav Modi and Gitanjali Gems MD Mehul Choksi, several cases relating to bank frauds have been coming up in the media almost on daily basis. Taking the cognizance of the recent reports and also taking a stand to fight for your rights, NewsX launched a campaign to find the truth behind the Non-Performing Assets (NPAs) and the owners of the companies along with those who run their business only on papers. Tracking the NPA files, NewsX carried out an investigation where it was found that a Delhi based diamond firm known for manufacturing and exporting diamonds and other jewellery was in docks for an alleged fraud of Rs 358 crore at Oriental Bank of Commerce (OBC). The case was filed after NewsX had reported the matter.
Just a few hours after NewsX broke the report of Dwaraka Das, the Criminal Bureau of Investigation (CBI) took the cognizance of the NewsX investigation and registered a case against all the 4 directors of the firm. Dwaraka Das was named in the list of over 200 defaulters. Following the investigation, NewsX found that there are around 1406 companies and the total loans amounting to 1000s of crores of rupees that have been taken by individuals, companies and have not been paid back. As the part of investigation, a NewsX team also went to the places where the four directors of the Dwaraka Das lived.
NewsX went to their permanent address and talked with the locals and the neighbours of the accused owners. While talking to the locals, NewsX found that the CBI or a team of crime branch had visited the area and had also enquired about the residences of Ravi Kumar Singh, Krishna Kumar Singh (The following conversation was recorded on the spy cam by the NewsX reporters). While taking a walk through in the area, NewsX found that the accused were living in a shady area. The biggest question that rose following the NewsX investigation was ‘How come these people managed to get 100s of crores of loan’ also the investigation highlighted that maybe the bank failed to do a proper background check on the concerned people.
Here is the copy of FIR accessed by NewsX RC0742018E0003