CBI registered a case against film maker Bunty Walia, this is the allegation

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The CBI has registered a case against filmmaker Jaspreet Singh Walia alias Bunty Walia in the Kathik Bank fraud case involving a loss of more than 119 crore rupees to IDBI Bank. Officials gave this information on Sunday. He said that IDBI Bank has alleged in the complaint that in June 2008, on personal guarantees, along with Walia and others, GS Entertainment Pvt Ltd paid $2.35 million, about Rs 10 crore, equivalent to FCL and Rs 4.95 crore to the production of Sanjay Dutt and others. was paid for. The Bipasha Basu starrer Lamha, based on a film finance scheme, was approved for a multi-crore RTL.

This claim has been made by the bank

Banks has claimed that the film was originally scheduled to release in 2009, but its release was held up due to disputes between potential promoters and exhibitors. The bank said the account became a non-performing asset on September 30, 2009. Subsequently, the bank appointed PVR as the sole distributor to release the film worldwide based on an agreement with GSEPL, PVR and IDBI Bank. Along with this, an investment of Rs 8 crore was committed to meet its print and promotional costs and other post-production costs.

What is the bank charge?

“However, PVR failed to fulfill its commitment as it suffered a loss of around Rs 83.89 lakh,” the bank alleged. The total revenue of the company was Rs 7.41 crore, while Rs 8.25 crore was spent on promotion and distribution. The bank alleged that the forensic audit revealed that the company had submitted ‘fake usage certificates’, transferred funds to banks and manipulated ledgers. It charged GSEPL with fraud, forgery, false records, misappropriation of public funds, misrepresentation and criminal breach of trust. Allegations have been made, resulting in the loan being declared fraudulent.

The CBI registered a case against him along with Walia

The CBI has registered a case against Walia, GSEPL and others under sections of the Indian Penal Code (IPC) relating to criminal conspiracy, cheating and forgery, as well as provisions of the Prevention of Corruption Act.