https://www.taxtmi.com/news?id=74650 Alleged inflation of net-worth certificates is said to have induced approval and disbursal of two corporate loan facilities aggregating Rs 980 crore, each secured by continuing personal guarantees. The facilities subsequently defaulted. The FIR alleges that materially higher net-worth representations made in 2018 were later contradicted during insolvency proceedings, and attributes the lending to collusion among the guarantor, borrower entities and their officers. Allegations include cheating, creation of false documents, misappropriation and misapplication of loan funds, breach of trust, and asset stripping intended to frustrate recovery. en-us Sat, 05 Sep 2026 18:46:04 +0530 Sat, 05 Sep 2026 18:46:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=74650 Alleged inflation of net-worth certificates is said to have induced approval and disbursal of two corporate loan facilities aggregating Rs 980 crore, each secured by continuing personal guarantees. The facilities subsequently defaulted. The FIR alleges that materially higher net-worth representations made in 2018 were later contradicted during insolvency proceedings, and attributes the lending to collusion among the guarantor, borrower entities and their officers. Allegations include cheating, creation of false documents, misappropriation and misapplication of loan funds, breach of trust, and asset stripping intended to frustrate recovery. News - Sat, 05 Sep 2026 18:46:04 +0530 https://www.taxtmi.com/news?id=74650