CBI raids REI Agro for alleged bank fraud
The CBI on Tuesday raided several locations, across the country, of basmati exporter REI Agro Ltd, which has allegedly defrauded several banks, an agency official said.
“Following a complaint by a consortium of 15 public sector banks, the Central Bureau of Investigation has registered a case against the company on the allegations of conspiracy, cheating and forgery. These banks have been allegedly defrauded by the company to the extent of Rs.3,814.39 crores since 2013,” said a CBI official.
“The raids led to recovery of a number of incriminating documents, against the company," added the official.