Mumbai: CBI registered a second FIR against Hanjer Biotech Energies and also named its promoter Imran Furniturewala and others in the bank fraud case where the accused allegedly caused a USD 10 million loss to India Exim Bank, which is the complainant in the case. The company was engaged in the business of scientific treatment of municipal solid waste and converting it into organic compost, green fuel, sand and plastic granules in India and the UK.CBI alleged that Hanjer Biotech (Erith) Ltd, UK (that borrowed the credit facility and an accused in the case), had entered into an agreement with Navi Infrastructure Engineering Private Limited (NIEPL), one of the Hanjer Group’s existing suppliers, for the supply of machinery for its recycling project facility in the UK. The company approached India Exim Bank for a credit facility to install machinery for a recycling project in the UK and the bank sanctioned USD 10 million.CBI alleged that the machinery was not supplied, and the advances received towards the purchase of machinery were diverted and the entire $10 million was siphoned off.Earlier, CBI registered a Rs 93 crore bank fraud case against the company along with others on the complaint of Punjab National Bank (PNB).
