New Delhi — The Central Bureau of Investigation (CBI) has registered a case against Mumbai-based IL&FS Energy Development Company Limited and five of its managing directors and directors over an alleged loan fraud that caused a wrongful loss of Rs 212.34 crore (yaani about Rs 2.12 arab, or Rs 212 crore) to Canara Bank, an official said on Saturday, according to IANS.

Source: IANS via hi INDiA

The case was registered on October 21 on a complaint from Canara Bank's Circle Office at Bandra (East), Mumbai. The accused named are the company and Sunil Wadhwa, Anoop Seth, Hari Sankaran, Ramesh Chandra Bawa and Arun Kumar Saha, along with unknown public servants and unknown private persons, the CBI said in its statement.

Source: CBI statement via TradingView News

Rs 212.34 croreAlleged wrongful loss to Canara Bank, according to the CBI
Rs 100 croreTerm loan allegedly taken from the erstwhile Syndicate Bank's Mumbai Large Corporate Branch
USD 50 millionLoan allegedly taken from the bank's London branch (yaani about 5 crore US dollars)
October 21Date the CBI registered the case

The agency alleged that the accused entered into a criminal conspiracy, took the loans, and did not use the funds for the purposes for which they were sanctioned. It alleged the money was diverted and siphoned off through associate companies, causing the loss to the bank. The accused have been booked for criminal conspiracy and cheating, and for offences under the Prevention of Corruption Act, according to the CBI statement. These are allegations at the case-registration stage; no court finding has been reported.

Source: CBI statement via TradingView News

After registering the case, the CBI conducted searches at multiple premises linked to the company's managing directors and directors in Mumbai, Delhi and Noida, among other places. During the searches, investigators recovered and seized incriminating bank documents, deposit slips, mutual-fund portfolio documents, bank account and property details of the directors, and company ledgers relevant to the investigation, the agency said.

Source: IANS via hi INDiA

IL&FS Energy Development Company is part of the IL&FS group, whose 2018 collapse triggered one of India's biggest corporate governance crises, Nation Press noted in its report on the new case. The CBI said its investigation is continuing.

Source: Nation Press

Sources: IANS report, October 24, 2026, via hi INDiA; CBI statement as carried by TradingView News, October 24, 2026; Nation Press, October 24, 2026.

Source: IANS via hi INDiA