The Central Bureau of Investigation (CBI) has registered a case against Supertech Limited, its top directors, and unidentified bank officials for allegedly defrauding IDBI Bank of ₹126.07 crore. The case stems from a 2014 term loan of ₹200 crore extended under a consortium arrangement with Union Bank of India, which Supertech allegedly defaulted on, leaving a massive outstanding balance.
Key Accused and Allegations
The FIR names several high-ranking Supertech officials, including:
- Ram Kishor Arora (Promoter & MD)
- Sangita Arora, Mohit Arora, Parul Arora (Whole-time Directors)
- Anil Kumar Sharma, Vikas Kansal, Anil Kumar Jain, Pradeep Kumar Goel
The CBI alleges that the accused engaged in a criminal conspiracy, submitting forged documents to secure and misappropriate loan funds. The account was later declared fraudulent, and the borrowers were labeled wilful defaulters, causing wrongful loss to the bank.
Raids and Recoveries
CBI teams conducted searches at five locations in Noida and Ghaziabad, recovering ₹28.5 lakh in cash and incriminating documents from the premises of one of the directors. The investigation is ongoing, with more seizures expected.
Supertech’s Response
Supertech Chairman RK Arora stated that a one-time settlement plan with IDBI Bank has already been submitted to the Supreme Court, and the company is cooperating with the CBI by providing all requested details.
Wider Implications
This case follows a Supreme Court directive in April 2025, ordering a CBI probe into Supertech’s dealings with multiple banks over delayed housing projects. The apex court had criticized the “unholy nexus” between builders and financial institutions, citing widespread distress among homebuyers.
