CBI raids 14 places in connection with Rs 5,717 crore fraud

The Uncut

New Delhi. The Central Bureau of Investigation (CBI) on Friday raided 14 locations following a FIR in connection with an alleged Rs 5,717-crore bank fraud by Chhattisgarh-based SKS Power Generation Ltd, officials said.

In its FIR, registered on the orders of the Allahabad High Court, the CBI has alleged that SKS Power Generation Limited, a company promoted by SKS Ispat & Power Limited (SKSIPL), had taken a loan of Rs 6,170 crore from State Bank of India (SBI), L&T Infrastructure Finance Limited, PTC India Finance Limited and State Bank of Bikaner & Jaipur, after which Rs 5,717 crore was not paid.

He said that the CBI has registered a case against Anil Mahabir Gupta, director of SKS Power Generation (Chhattisgarh) Limited, Anish Anil Gupta, director of SKS Ispat and Power Limited, Mumbai and 26 others including two officials of State Bank of India. The CBI conducted raids in Mumbai, Kolkata, Raipur, Bhubaneswar, Trichy and seized documents and material.

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