"IRPL had availed a total of 46 Letters of Credit from the SBI, which were issued against bogus firms/fake invoices for a value of around Rs 87.36 crore which was devolved on the bank later due to insufficient funds in their account and also diverted the business proceeds which resulted into a pecuniary loss of around Rs 90 crore to SBI," sources added.
Earlier, SBI had filed a complaint with the Central Bureau of Investigation (BS and FC), Bangalore who registered an FIR, conducted an investigation and later filed a charge sheet against IRPL, R.Shenbagan, R.Rajan, Raji Shenbagan, Thirumagal Rajan and few employees of IRPL and the State Bank of India among others.
During the course of the investigation, the directors/partners of IRPL - R.Shenbagan, R.Rajan, S.Raji and R.Thirumagal - did not disclose the details of the financial transaction, properties involved and the bank accounts.
Twenty couples with iRPL attending antenatal clinic and twenty fertile men who had fathered a child a year prior to the study and had normal sperm parameters were enrolled as cases and controls, respectively, after signing an informed consent form each and obtaining the approval from the institute's ethical clearance committee (Ref.
No significant differences in age, seminal volume, liquefaction time, pH and sperm concentration were observed between male partners of idiopathic RSA cases and controls, but sperm morphology and motility were significantly (p <0.05) lower in male partners of patients with iRPL (Table 1).