CBI raids in Rs 48.48 crore Chennai PNB bank fraud case at Hyd, Odisha on Bengaluru firms

Chennai, Sep 19 (UNI) The Central Bureau of Investigation (CBI) on Saturday conducted coordinated search operations at Hyderabad and Odisha in connection with Rs 48.48 crore PNB Chennaii bank fraud case registered against BSFB, Bengaluru. The case was registered against M/s PCH Corporation Ltd and M/S PCH Retail Ltd, its Directors and unknown public servants based on the complaint of PNB Bank, Chennai alleging offences of criminal conspiracy, cheating and causing a wrongful loss of Rs 48.48 crore to the PNB bank. It was alleged in the FIR that the accused with malafide intention disposed off the entire hypothecated stocks…