CBI unearths 42 cases of bank fraud after raids at 172 locations

New Delhi, IndiaUpdated: Nov 05, 2019, 09:45 PM IST
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File photo of CBI Photograph:(Zee News Network)

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During searches, incriminating documents have been recovered so far.

The Central Bureau of Investigation (CBI) on Tuesday conducted searches at around 187 places in various states and Union Territories and has registered around 42 cases of bank frauds involving approximately Rs 7,200 crore. Searches are still in progress.

The searches are being conducted in Andhra Pradesh, Chandigarh, Delhi, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Punjab, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, Dadra and Nagar Haveli related to bank fraud cases.

The banks involved (including consortium members) are Andhra Bank, Oriental Bank of Commerce, Indian Overseas Bank, State Bank of India, Allahabad Bank, Canara Bank, Dena Bank, Punjab and Sind Bank, Punjab National Bank, Central Bank of India, Union Bank of India, IDBI Bank, Bank of Baroda, Bank of Maharashtra and Bank of India, read a statement from the CBI.

The places being searched were in Delhi, Gurugram, Chandigarh, Ludhiana, Dehradun, Noida, Baramati, Mumbai, Thane, Silvassa, Kalyan, Amritsar, Faridabad, Bengaluru, Tirupur, Chennai, Madurai, Quilon, Cochin, Bhavnagar, Surat, Ahmedabad, Kanpur, Ghaziabad, Varanasi, Chandauli, Bhatinda, Gurdaspur, Morena, Kolkata, Patna, Krishna, Hyderabad and Bhopal.

Out of these 42 cases, there are four cases of more than Rs 1000 crore (approximately) and 11 cases of fraud amount of Rs 100 crore (approximately) to Rs 1000 crore (approximately), CBI statement added.

Among the prominent cases registered include - a case against a Malad (East) Mumbai/Bhopal based private company; its five Directors/Additional Director/Guarantors and unknown public servants on the allegations that the accused Directors and Guarantors of the company engaged in bulk trading of agro commodities, in connivance with unknown bank officials and others fraudulently availed credit facilities of Rs. 6000 crore (approximately) from SBI, Bhopal by resorting to falsification of accounts and forgery of documents, such as the bill of lading, falsely showing the movement of goods etc.

During searches, incriminating documents have been recovered so far.