Pune: The Central Bureau of Investigation (CBI) on Thursday, October 29, conducted searches at multiple locations in Pune in connection with an alleged bank fraud involving Rs 81.66 crore, according to an official statement cited by Nation Press.

Source: Nation Press

The case was registered against M/s Aaj Ka Anand Papers Pvt Ltd, its directors and unknown public servants on a complaint filed by the State Bank of India (SBI), Mumbai, alleging a wrongful loss of Rs 81.66 crore to the bank.

According to the complaint, the accused allegedly indulged in criminal conspiracy, cheating, criminal breach of trust and manipulation of accounts. Investigators allege that business revenues were suppressed and misappropriated, books of accounts and electronic records were falsified, and funds were diverted in violation of lending conditions.

Source: The India Print

The CBI has said substantial amounts were allegedly routed through current accounts maintained outside the designated banking channels, without the consent of the consortium of lenders.

During the searches at office and residential premises linked to the company and its directors, CBI teams recovered documents and digital evidence, which are now being examined to trace the flow of funds and identify any other persons involved.

The agency said further investigation is underway. The allegations in the case have not been established in court.