JAMMU, Aug 31: The Central Bureau of Investigations (CBI) today detected that loans and Cash Credit Limits secured by Raj Kumar Mahajan, Radhika Mahajan and Rajat Mahajan of Gandhi Nagar had swelled to the tune of around Rs 105 crore.
Documents seized from residence, office and industrial premises of the businessmen indicated that apart from Rs 33 crore and Rs 36 crore worth loans taken by them from the Bank of India, Satwari branch for Jhelum Industries Private Limited and Jhelum Infrastructure Projects Private Limited, they had also taken loans on the names of New Flour Mill, Ispat Shoot in Jammu and Rajat Flour Mill in Leh.
Their total outstanding to the banks was to the tune of Rs 105 crore and they had turned defaulter by not returning the loans and also misappropriated the amount.
Further verifications of the documents seized from the businessmen was on, sources said.
It may be mentioned here that the CBI had conducted raids at industries, mills and houses of Raj Kumar Mahajan, Radhika Mahajan and Rajat Mahajan yesterday in Jammu, Himachal Pradesh and Dhanbad in Jharkhand.