Kolkata: The Central Bureau of Investigation (CBI) has conducted raids at several places in the city in connection with the probe of an alleged bank fraud case involving around Rs 1000 crore.
According to sources, the case regarding which the raids were conducted was registered on the basis of a complaint filed by a public sector bank. It was alleged that during the tenure between 2014 and 2020, a finance company had obtained multiple loans worth about Rs 1000 crore, which were later siphoned off.
The primary objective of the search operation is to gather documentary evidence and trace the flow and end-use of the funds allegedly involved in the financial irregularities. The CBI is investigating charges under various sections of the Indian Penal Code and the Prevention of Corruption Act.
During the investigation, the names of two businessmen cropped up where the raids were conducted on Thursday.