Police have taken into 2-day remand chairman of SRS Group for an alleged fraud worth Rs 90 crore from SBI, according to a news report. Three other persons namely Nankchand Tayal, Bishen Bansal and Rajesh Singla have also been taken into custody.
The remand was made on a complaint by SBI from where the company has taken loan in 2009 for its real estate projects Royal Hills, Sec 87. The SRS Group is said to have taken the loan for the same project from Canara Bank also that was not informed about the SBI loan. Later, Canara Bank has attached this property. The investigations in the case were being carried out since April 2018.