The Central Bureau of Investigation on Thursday, 1 March, approached Interpol in an attempt to locate Sabhya Seth, the promoter of Delhi-based jeweller Dwarka Das Seth International Private Limited, an accused in the alleged Rs 389.85-crore loan fraud involving Oriental Bank of Commerce.
The CBI has initiated a "diffusion notice” against Seth, who has not joined the investigation, even as the agency on Thursday 1 March questioned Reeta Seth, his mother who is also accused in the FIR, and his wife Punita (not accused in the FIR), officials said.
They said they were being questioned at a location outside Delhi.
A diffusion notice is a less formal procedure in Interpol, used to request the arrest or location of an individual, or additional information in relation to a police investigation.
The CBI has booked Dwarka Das Seth International Private Limited and its directors for the alleged fraud.
The agency has also issued look out circulars against everyone accused in the case, officials told PTI. The LoCs have been issued to restrict their movement, CBI said.
A Look out CircularLook out Circular alerts all ports of entry to restrict the movement of the person against whom the notice has been issued, and report any such attempt to the issuing agency.
A Look out Circular may seek detention of the accused at the port of entry.
CBI booked the company, and Sabhya Seth, Reeta Seth, Krishna Kumar Singh, Ravi Singh – all directors of the firm – and another company named Dwarka Das Seth SEZ Incorporation.
The public sector bank had filed a complaint with the CBI six months ago, but the bank fraud section of the investigating agency took cognisance after the PNB scam broke out.
The company has availed various credit facilities from Oriental Bank Commerce between 2007-12, which swelled to Rs 389 crore during the period.
It was found by the bank that the company was using Letters of Credit (LoCs) to pay off other creditors against the purchase of gold and precious stones, and transfer gold and funds outside the country using fictitious transactions, the bank complaint, now part of the CBI FIR, alleged.
The company was also engaging in business transactions with non-existent entities, it said.
(With inputs from PTI )
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