CBI registers case against private company over bank fraud
By ANI | Published: October 8, 2020 10:44 PM2020-10-08T22:44:32+5:302020-10-08T23:00:18+5:30
The Central Bureau of Investigation (CBI) on Thursday registered a case against a private (borrower) company and others on the allegations of causing an alleged loss of approximately Rs 826.17 crore to Punjab National Bank (PNB) and other consortium banks.
CBI registers case against private company over bank fraud
The Central Bureau of Investigation (CBI) on Thursday registered a case against a private (borrower) company and others on the allegations of causing an alleged loss of approximately Rs 826.17 crore to Punjab National Bank (PNB) and other consortium banks.
The case was registered following a complaint from PNB.
According to the official release, it is alleged in the complaint that the accused company had cheated the PNB led consortium banks by way of diversion/siphoning off bank funds etc.
The alleged company is based at Secunderabad, Rangareddy in Telangana and has offices at other locations.
In connection with case, CBI on Thursday conducted searches at offices and residential premises of borrower company and other accused at 11 locations including Hyderabad, Mumbai and West Godavari in Andhra Pradesh.
Further investigation is underway.
( With inputs from ANI )
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
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