CBI Searches Mumbai Premises Linked To Hanjer Biotech Directors In ₹93.44-Crore Bank Fraud Case
Mumbai: The Central Bureau of Investigation (CBI) on Friday conducted searches at multiple premises linked to the directors of Mumbai-based Hanjer Biotech Energies Pvt Ltd in connection with an alleged Rs 93.44-crore bank fraud Case. Bank records, property documents and other material relevant to the investigation were recovered and seized during the searches, the central agency said. Case…
Mumbai: The Central Bureau of Investigation (CBI) conducted searches at various locations connected to the directors of Hanjer Biotech Energies Pvt Ltd in India, as part of a probe into an alleged ₹93.44-crore bank fraud case. During the raids, authorities seized bank records, property documents and other evidence relevant to the investigation, according to the CBI.
The investigation was initiated on September 30, following a complaint from Punjab National Bank’s Stressed Assets Management (SAM) Branch in Mumbai against the company, its directors, guarantors, unidentified public servants and private individuals. The CBI alleges that the company allegedly obtained a loan of ₹135 crore using fraudulent invoices from a related party.
It is claimed that a portion of the loan funds were then misappropriated, resulting in a loss of approximately ₹93.44 crore to the bank. The CBI is also investigating the Prevention of Corruption Act, with the case registered for criminal conspiracy and cheating. The searches were carried out to uncover incriminating documents and trace the flow of funds to determine how the money was allegedly diverted.
Authorities are examining the end-use of the loan and probing the involvement of the company's directors, guarantors, private individuals and alleged public servants.
Written by urgent.news from Free Press Journal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
