The case was registered following a complaint from PNB.
New Delhi:
The Central Bureau of Investigation (CBI) on Thursday registered a complaint against a private company (borrower) and others over allegations of alleged loss of around Rs 826.17 crore to the Punjab National Bank (PNB) and to other banks in the consortium.
The case was registered following a complaint from PNB.
According to the official statement, it is alleged in the complaint that the accused company deceived the banks of the PNB-led consortium by embezzling / siphoning bank funds etc.
The alleged company is based in Secunderabad, Rangareddy in Telangana and has offices elsewhere.
As part of the case, CBI on Thursday carried out searches of the offices and residential premises of the borrower company and other defendants in 11 locations, including Hyderabad, Mumbai and West Godavari in Andhra Pradesh.
Further investigation is underway.
(This story was not edited by GalacticGaming staff and is auto-generated from a syndicated feed.)
