Rs 62.42 Crore Banking Fraud: CBI Raids Multiple Locations Linked to Mumbai Firm

A case has been registered by the Central Bureau of Investigation (CBI) on 18.06.2026 on a complaint made by the SAM Branch of Indian Bank, Mumbai. The case is registered against a Mumbai-based firm, its partners, unknown public servants and other unknown private persons.

According to the complaint, the accused persons allegedly worked together in a criminal conspiracy to cheat the banks by providing false and misleading information. By doing this they got higher cash credit facilities from Indian Bank and another bank and caused a loss of around Rs 62.42 crore to Indian Bank.

Following the registration of the case, CBI carried out searches on 20.06.2026 at various premises of the partners of the firm in Mumbai and elsewhere. These searches were conducted on the basis of warrants issued by the Hon’ble Special Court for C.B.I. Cases, Mumbai.

During the searches, the CBI recovered and seized several documents that are relevant to the investigation. An initial review of these documents revealed the existence of certain debtor entities whose credentials are currently being verified. The agency also seized documents that allegedly show inflation of debtor figures to obtain higher credit facilities from the banks.

The investigation is continuing to determine the full extent of the conspiracy, identify the roles of all persons involved, including public servants and private individuals, and trace how the loan funds were ultimately used.