CBI raids 6 locations across 4 states in Rs 1,109-cr bank fraud case against infra firm

NEW DELHI: (Jul 19) The CBI has conducted searches at six locations across four states including Odisha and West Bengal in connection with a Rs 1,109-crore bank fraud case against a Bhubaneswar-based power infrastructure company, officials said Sunday.

The operation conducted on Saturday covered residential premises of accused directors of Gupta Power Infrastructure Ltd in Bhubaneswar, company’s registered office in Kolkata and manufacturing facilities in Kashipur (Uttarakhand), Tiruvallur (Tamil Nadu), and Bhubaneswar.

“The case pertains to alleged defrauding of Canara Bank to the tune of Rs 1,109 crore in connection with various fund-based and non-fund-based financial facilities availed by the accused company from the bank,” a CBI spokesperson said in a statement.