A financial offence is alleged to have been committed by a company and its directors. The company, which is involved in the edible oil business, is said to have defaulted on loans. Falsification of accounts and failure to disclose related party transactions are among the allegations. A significant loss is reported to have been incurred by Bank of Baroda.

The complaint was filed by a bank official. An investigation has been initiated by the Bank Security and Fraud Branch.

Further details of the allegations and the investigation are available from the source. The company in question is based in Ahmedabad.