CBI begins probe into bank frauds amounting to Rs 1,100 crore
The Central Bureau of Investigation (CBI) on Tuesday kicked off a massive operation against bank frauds across the country.
The Central Bureau of Investigation (CBI) on Tuesday kicked off a massive operation against bank frauds across the country.
Investigating teams carried out searches across 50 locations in 18 cities in connection with bank frauds amounting to Rs 1,114.77 crore and 17 cases have been registered against at least 15 companies and their directors, promoters, guarantors and bank officials.
A CBI spokesperson said, "Searches conducted in various cities including Delhi, Mumbai, Ludhiana, Thane, Valsad, Pune, Palani, Gaya, Gurgaon, Chandigarh, Bhopal, Surat and Kolar. This is a special drive against bank frauds."
The CBI filed a fresh case against directors of Winsome Diamonds for allegedly causing a wrongful loss of Rs 202 crore to Exim Bank.
An FIR was also filed against Supreme Tex Mart for allegedly causing a wrongful loss of Rs 143.25 crore to State Bank of India (SBI) and Eskay KnIT for allegedly causing a loss of over Rs 91 crore to Bank of India among others.
Union Bank of India has filed three cases of fraud amounting to at least Rs 24 crore against senior officials of one branch alone. CBI is also probing the role of public servants, private persons and other bank officials.
CBI officials said they have recovered documents, hard disks and other articles related to the bank frauds in searches across the country. They refused to comment on whether this nationwide operation would continue for more days and include other companies and promoters as well.
Explaining the modus operandi, a source said, “In most cases, the accused had fraudulently diverted loans or obtained loans on the basis of false documents."
First Published: Jul 2, 2019 2:44 PM IST
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