Dear sir/madam,
Kind Attn: Canara bank.
SUB: Cheating the bank by showing higher raw material stock.
Some confidential information we want to share with you.In Sri Parameswari spinning mills, Pandalgudi, Aruppukottai they are cheating your bank by showing wrong raw material stock during bank audit time.They are keeping the raw material stock for 60 days only(value:18.50 crores rupees).But in paper they are showing the stock for 145 to 150 days(value:47.00 crores rupees).During bank audit time they are keeping bales in periphery and inside there will be no material.They are keeping cotton bales like a border wall and inside the wall there will be nothing, only hollow space.By this way they are cheating more than 35.00 crores rupees for many years.
So we request you to go to the mill for immediate inspection.Please kindly take action against them.
We already approached your branch regarding this issue.They assured us they will take action against the issue.Expecting the action against the cheaters.
Thanks and regards.
Indian citizen.
Note:They have also taken working capital loan from IDBI and working capital term loan from Lakshmi vilas bank ltd.
