UP sugar firm booked for cheating bank of ₹109 crore

The CBI has registered a case against Uttar Pradesh-based Simbhaoli Sugars for cheating the Oriental Bank of Commerce (OBC) of ₹109 crore. The CBI has named the BSE-listed company's CMD Gurmit Singh Mann, Deputy MD Gurpal Singh and eight others including the CFO in its FIR. It is also carrying out raids at multiple locations in Delhi and UP.