The directors of the firm — Champat Rikhabchand Sanghavi, Deepak Champat Sanghvai, and Ashwin R.Shah — and unknown others have been booked by the CBI.
A CBI official said that the accused siphoned funds disbursed to them through falsification of information and committed the offence of criminal breach of trust, cheating, misappropriation of public funds in connivance with one another.
Searches were conducted at different locations at the premises of the accused in Ahmedabad, including the borrower company, which led to the recovery of incriminating documents.
–IANS
atk/arm
