Uco Bank fraud case: CBI raids at several locations in Bengal

The Central Bureau of Investigation (CBI) on Thursday conducted raids at several locations in West Bengal in connection with an alleged bank fraud case, as reported by PTI.

The searches pertain to an alleged bank fraud case of ₹7.5 crore in Uco Bank. The agency had taken over the case on the complaint of the bank.

The CBI officials carried out coordinated searches across multiple locations in Kolkata as part of the ongoing bank fraud investigation, reported PTI.

The operations primarily targeted the New Alipore and New Town areas. In New Alipore, five teams from the agency focused on a fifth-floor residence within a prominent multi-storeyed complex at Plot No. 28. Investigators stated that the raids were initiated following specific intelligence regarding the case, which reportedly involves a ₹7.5 crore fraud at UCO Bank stemming from a loan procured in 2016.

To prevent any interference with the proceedings, a significant contingent of central paramilitary forces accompanied the CBI officers. The agency’s main objective in these searches is to document the flow of illicit funds and determine the final destination of the embezzled money.

The case was officially registered by the CBI in 2023 following a complaint from the bank. While the agency has not yet released the identity of the businessman involved, the operation is aimed at gathering documentary evidence and relevant materials to strengthen the prosecution's case.

"The coordinated operation aims to gather documentary evidence and other materials relevant to the investigation," an officer told PTI.

"Allegations of fraud and cheating have been raised in connection with the procurement of a 2016 loan. A case was registered in this matter in 2023," he added.

CBI court sentences 2 companies, 6 individuals in ₹152 crore Canara Bank fraud case

A CBI Court in Panchkula has convicted and sentenced two private companies and six individuals in connection with bank fraud cases involving a total amount of ₹152 crore, reported ANI.

According to the CBI, the special court, through its order dated January 13, sentenced M/s SRS Real Infrastructure Ltd. and M/s SRS Real Estate Ltd., along with six private individuals, Rajesh Singla, Anil Jindal, Bishan Bansal, Nanak Chand Tayal, Seema Narang and Dheeraj Gupta, for their role in cheating Canara Bank.

The court imposed a fine of ₹50,000 each on the two convicted companies. Among the individuals, Rajesh Singla and Anil Jindal were sentenced to rigorous imprisonment (RI) for five years along with a fine of ₹1.2 lakh each. Bishan Bansal and Nanak Chand Tayal were also awarded five years of rigorous imprisonment with a fine of ₹80,000 each. Seema Narang and Dheeraj Gupta were sentenced to rigorous imprisonment for four years with a fine of ₹40,000 each.