How did Delhi diamond exporter defraud OBC of â¹389 crore?
CBI has booked Delhi-based diamond exporter Dwarka Das Seth International for an alleged â¹389.85-crore fraud at Oriental Bank of Commerce (OBC). Since 2007, Dwarka Das availed various credit facilities from OBC using Letters of Credit by foreign banks to pay off creditors for purchasing precious metals. This continued till OBC noticed that some of those banks were poorly rated.