The Central Bureau of Investigation (CBI) on 25 March conducted searches at more than 100 places across India in connection with more than 30 cases of bank fraud amounting to over Rs 3,700 crore as part of a special drive to book the fraudsters on the complaints received from different public sector banks.
The banks on whose complaint the central agency launched the special drive 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, CBI spokesperson RC Joshi said in the press note.
People familiar with the development said the amounts involved in 30 bank fraud cases range from Rs 20 crore to Rs 1,000 crore.
Sources said that a high-level meeting of senior officials took place in the agency on Monday and the operation was finalised to conducts raids at different parts of the country since Tuesday morning.
CBI spokesperson RC Joshi said, “The various cities/towns where the searches were conducted include Kanpur, Delhi, Ghaziabad, Mathura, Noida, Gurugram, Chennai, Vellore, Tiruppur, Bengaluru, Guntur, Hyderabad, Bellary, Vadodara, Kolkata, West Godavari, Surat, Mumbai, Bhopal, Nimadi, Tirupati, Visakhapatnam, Ahmedabad, Rajkot, Karnal, Jaipur and Sri Ganganagar”.
Several incriminating documents and other material/digital evidence have been recovered during the searches.
“It may be stated that CBI has been receiving a number of complaints from various banks alleging cheating, diversion of funds, and 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 into the loans becoming Non-Performing Assets (NPAs), thus causing heavy loss to the public sector banks. After scrutiny, the cases are registered by CBI. Thorough investigation is carried out in order to book the culprits, take them to face the law and endeavour to salvage public money,” Joshi said.