CBI raids 5 locations in Noida, Ghaziabad
LUCKNOW, June 15 -- The Central Bureau of Investigation carried out raids at five official and residential premises of a private company and its promoters and directors in Uttar Pradesh's Gautam Buddh Nagar, commonly known as Noida, and the Ghaziabad area on Saturday, in a case related to fraud for causing a wrongful loss of Rs 126.07 crore to IDBI Bank Limited, CBI officials said in a press note shared with the media.
Incriminating documents and Rs. 28.50 lakh cash were recovered during searches on the premises of one of the directors of the company, the officials said. The searches were still in progress and more seizures were likely, the officials added.
Earlier, the CBI had registered a case, based on a written complaint from IDBI Bank Ltd against a private company and its promoters and directors, with unknown bank officials, on allegations that the accused entered into a criminal conspiracy to cheat and misappropriate the funds sanctioned by the bank.
The complainant also alleged that the borrowers submitted forged documents as genuine to the bank, thereby inducing the bank to part with loan funds. Further, it was alleged that the borrower was declared a wilful defaulter and the account was reported as fraudulent for causing wrongful loss of Rs 126.07 crore to the bank.htc...
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