CBI raids over 100 locations across India in bank fraud cases

New Delhi: The Central Bureau of Investigation (CBI) Thursday conducted searches over 100 places in 11 States and Union Territories (UTs) in connection with more than 30 cases of bank-fraud”>bank fraud amounting to over Rs 3,700 crore.

As per a statement, the searches are part of a special drive to nab fraudusters after complaints were received from different nationalised banks across the country.

The complainants include Indian Overseas Bank, Union Bank of India, Bank of Baroda, Punjab National Bank, State Bank of India, IDBI, Canara Bank, Indian Bank and Central Bank of India.

Searches were conducted in cities, towns

Searches were conducted in various cities and towns including Kanpur, Delhi, Ghaziabad, Mathura, Noida, Gurugram, Chennai, Thiruvarur, Vellore, Tiruppur, Bangalore, Guntur, Hyderabad, Bellary, Vadodara, Kolkata, West Godavari, Surat, Mumbai, Bhopal, Nimadi, Tirupati Visakhapatnam, Ahmedabad, Rajkot, Karnal, Jaipur and Sri Ganganagar.

Several incriminating objects including documents and other material and digital evidence were recovered during the searches.

“The CBI has been receiving a number of complaints from various banks alleging cheating, diversion of funds, submission of fake/forged documents by different defaulting firms while obtaining loans/credit facilities etc. There have been allegations that such firms have been turning defaulters resulting in the loans becoming Non-Performing Assets (NPAs), thus causing heavy loss to the public sector banks,” the statement added.

The cases have been registered by the CBI and a thorough investigation is being carried out.