Bank fraud of over Rs 4,000 cr in Kolkata, CBI raids across country

Share this post on:

Kolkata, 23 December: The Central Bureau of Investigation (CBI) has registered a case against a Kolkata-based private company for allegedly defrauding a bank to the tune of Rs 4,000 crore.

According to sources, union Bank of India (UBI) has filed a complaint against Corporate Power Limited and its directors, promoters and others. An allegation of fraud of Rs 4037.87 crore has been made against the company.

In this case, the CBI has raided 16 places across the country on Friday. The search operation being conducted in Mumbai, Nagpur, Kolkata, Ranchi, Durgapur, Visakhapatnam and Ghaziabad.

It is alleged that between 2009 and 2013, the concerned company took a huge loan from the bank by giving information about the fake project. The money has been transferred to the bank accounts of various shell companies. Many important documents have been recovered during the raid.