Sunday, June 29, 2025
spot_img

CBI raids in Mumbai, Gujarat in Rs 428 crore Canara Bank fraud

Date:

Share post:

spot_imgspot_img

Mumbai, Sep 15:  The Central Bureau of Investigation (CBI) raided several locations in Mumbai and Gujarat’s Kutch in connection with an alleged fraud of Rs 428.50 crore in the Canara Bank, an official said on Thursday.

Following a complaint lodged by Canara Bank, the CBI registered a case against company, PSL Ltd and its director Ashok Yoginder Punj, Alok Yoginder Punj, Rajender Kumar Bahri, Chitranjan Kumar Jagdishchadra Goel, and other known and unknown persons including public servants.

As per the Canara Bank’s complaint, between 2009-2016, the accused entered into a conspiracy to cheat the bank through sanction of various credit facilities and misrepresented books of accounts.

They are charged with alleged misutilisation of the funds of the bank and diverting the receivable from its debtors, diverting the loans for projects to other purposes, thus, causing an alleged loss of Rs 428.50 crore to Canara Bank.

The CBI sleuths raided seven locations in Mumbai and Gujarat at the premises of the accused resulting in the recovery of incriminating documents and other articles.

IANS

spot_imgspot_img

Related articles

Emergency imposers murdered Constitution, intended to enslave judiciary, says PM Modi

New Delhi, June 29 : Prime Minister Narendra Modi on Sunday launched a scathing attack on those who...

YSRCP leader detained after tension erupts in Andhra Pradesh’s Anantapur

Amaravati, June 29:Police in Tadipatri town of Andhra Pradesh’s Anantapur district on Sunday detained YSR Congress Party leader...

PM Modi hails ‘women-led development’, lauds SHG initiatives in Meghalaya, Telangana, K’taka, MP

New Delhi, June 29: Prime Minister Narendra Modi on Sunday hailed the transformative role of women across India...

AAIB also probing sabotage angle in Air India plane crash: Minister

New Delhi, June 29: Minister of State for Civil Aviation, Murlidhar Mohol, has said that the Aircraft Accident...