New Delhi, June 22: The Central Bureau of Investigation (CBI) has registered a bank fraud case involving an alleged loss of ₹62.42 crore to Indian Bank and carried out searches at multiple locations linked to a Mumbai-based firm and its partners.
According to an official statement issued by the CBI, the case was registered on June 18, 2026, on the basis of a complaint filed by Indian Bank’s SAM Branch, Mumbai. The FIR names a Mumbai-based firm, its partners, unknown public servants and unidentified private individuals.
The agency alleged that the accused entered into a criminal conspiracy involving cheating and falsification of financial records. They are accused of submitting inflated debtor figures and other false financial information to banks, thereby securing higher cash credit facilities from Indian Bank and another financial institution.
The alleged fraudulent activities are stated to have caused a wrongful loss of approximately ₹62.42 crore to the complainant bank.
Following the registration of the case, the CBI conducted searches on June 20, 2026, at multiple premises connected with the firm’s partners in Mumbai and other locations. The searches were carried out under warrants issued by the Special Court for CBI Cases, Mumbai.
During the raids, investigators recovered and seized several documents considered relevant to the ongoing probe. Preliminary examination of the seized material reportedly indicates the existence of debtor entities whose credentials are currently under verification by the agency.
The CBI also stated that documents relating to the alleged inflation of debtor figures for obtaining enhanced credit facilities have been identified during the searches.
The investigation is continuing to ascertain the full extent of the alleged conspiracy, identify the roles of all involved individuals, including public servants and private persons, and trace the end-use of the loan funds.
The agency said further action will be taken based on the findings of the ongoing investigation.(KNC)
