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CBI Raids Three Delhi-NCR Locations in Rs 190 Crore Bank Fraud Case

File photo of the CBI headquarters in New Delhi. (PTI)

File photo of the CBI headquarters in New Delhi. (PTI)

The agency conducted searches after registering an FIR against Shri Sidhdata Ispat Pvt Ltd, Govardhan Industries Pvt Ltd, Shri Sidhdata Steel Tubes, Sudershan Tubes and others on a complaint by Bank of Baroda, officials said.

The CBI Friday conducted searches at three locations in Delhi and Noida in connection with an alleged bank loan fraud of Rs 190 crore, officials said. The agency conducted searches after registering an FIR against Shri Sidhdata Ispat Pvt Ltd, Govardhan Industries Pvt Ltd, Shri Sidhdata Steel Tubes, Sudershan Tubes and others on a complaint by Bank of Baroda, they said.

"It was alleged in the complaint that the accused cheated Bank of Baroda to the tune of Rs. 190.76 crore (excluding interest) by way of availing various credit facilities, on the basis of submitting fake documents to the bank…," CBI spokesperson RK Gaur said. It was also alleged that they diverted the funds fraudulently for the purpose other than they were sanctioned for, he said.

"Searches have been conducted today at two places in Noida (UP) and one place in Delhi which led to recovery of incriminating documents/material," he said.

first published:July 24, 2020, 17:35 IST