India


CBI registers Rs. 133.52 crore Bank fraud case, conducts searches in Mumbai & Kochi

New Delhi, Jul 10 (UNI) The Central Bureau of Investigation (CBI) today conducted searches at multiple premises linked to the directors of a private company in Mumbai, Maharashtra, and Kochi, Kerala, in connection with an alleged bank fraud of Rs. 133.52 crore.
The CBI registered the case on July 9 based on a complaint filed by the State Bank of India (SBI), SAM Branch, Mumbai, against the directors of the private company, along with unknown public servants and private individuals, for allegedly causing a wrongful loss of approximately Rs. 133.52 crore to the bank.
According to the CBI, the accused directors of Furnace Fabrica (India) Ltd. — A.R. Basheeruddin, Badri Prasad, Nezee Basheeruddin, Raiz Basheeruddin and Sanam Basheer — entered into a criminal conspiracy and allegedly obtained higher credit facilities from SBI by submitting false financial information.
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