CBI raids several locations in 2 separate bank fraud cases worth Rs 8,200 cr (Ld)
By IANS |
Published on
Fri, Dec 18 2020 23:42 IST |
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CBI raids in Delhi, UP, Raj, Haryana in Rs 1,400 cr bank fraud case. Image Source: IANS News
New Delhi, Dec 18 : The Central Bureau of Investigation (CBI) has filed cases against a Hyderabad-based company, Transstroy (India) Ltd, for allegedly cheating a consortium of banks of Rs 7,926 crore, and against a Chennai based company for cheating the bank to the tune of Rs 313.79 crore, officials said on Friday.
According to officials, fugitive diamantaire Nirav Modi, who is currently lodged in a UK jail and is facing extradition charges, is wanted in the Punjab National Bank fraud case for cheating the bank to the tune of Rs 7,700 crore.
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CBI books Hyderabad company for loan fraud, amount bigger than Nirav Modi case
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The Central Bureau of Investigation (CBI) office. (File)
The CBI has booked Hyderabad-based Transstroy (India) Ltd and its directors for alleged bank fraud of over Rs 7,926 crore in a consortium led by Canara Bank, in one of the biggest banking scams in the country, officials said on Friday.
The agency carried out searches at the premises of the company and the accused directors, including former Telugu Desam Party (TDP) MP Rayapati Sambasiva Rao, which led to the recovery of incriminating documents, its spokesperson said in a statement.
Rao, an additional director in the company, has been named in the FIR as accused, besides the company, its chairman-cum-managing director Cherukuri Sridhar and another additional director Akkineni Satish.
CBI raids several locations in 2 separate bank fraud cases worth Rs 8,200 cr
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