Home / India News / CBI registers cases filed by Canara Bank, SBI over Rs 8,000 cr fraud

CBI registers cases filed by Canara Bank, SBI over Rs 8,000 cr fraud

The two cases were filed separately and involved private firms in Hyderabad and Chennai

Tamil Nadu has borrowed close to a massive Rs 40,000 crore in four-and-a-half months, compared to Rs 17,000 crore last year

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Searches were conducted at the premises of private company/other accused at Hyderabad and Guntur, which led to recovery of incriminating documents.

T E Narasimhan Chennai

3 min read Last Updated : Dec 19 2020 | 3:04 PM IST

The Central Bureau of Investigation has registered two separate cases filed by Canara Bank and State Bank of India regarding fraud to the extent of Rs 7,926.01 crore and Rs 313.79 crore, respectively.

The first case was registered against a Hyderabad based private company, its CMD, additional Directors, unknown public servants and others on a complaint filed by Canara Bank.

It was alleged that the private firm had availed credit facilities using multiple banking arrangements.

A consortium was formed with other banks, led by Canara Bank. It was further alleged that the accused had falsified/ fabricated of books of accounts,

Topics : CBI Canara Bank sbi money laundering case funds misappropriation Hyderabad Chennai

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