{
  "id": 15032898,
  "title": "Pune Real Estate Loan Fraud: CBI Books Firm, Partners And Former SBI Chief Manager For Allegedly Cheating Bank Of ₹32 Crore",
  "url": "https://urgent.news/2026/10/16/pune-real-estate-loan-fraud-cbi-books-firm-partners-and-former-sbi",
  "topic": "world",
  "section": "World",
  "published": "2026-10-16T19:37:57.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/mumbai/pune-real-estate-loan-fraud-cbi-books-firm-partners-and-former-sbi-chief-manager-for-allegedly-cheating-bank-of-32-crore"
  },
  "original_language": "en",
  "account": "The Economic Offences Branch of the Central Bureau of Investigation (CBI) in Mumbai has initiated a probe into a real estate firm, its partners, and a former senior official of State Bank of India (SBI) for allegedly defrauding the bank of over ₹32 crore. The firm, involved in the construction and development of high-end villas in Pune, approached SBI for a working capital loan, which was sanctioned despite the borrower's failure to utilize the funds for the intended purpose and complete the project. According to the CBI, the borrower and its partners allegedly submitted false documents to induce SBI to sanction the credit, and subsequently failed to deposit the majority of the sales proceeds with the bank, diverting the funds instead. Additionally, the borrower sold the completed villas without obtaining the necessary Non-Objection Certificate from SBI, further exacerbating the situation. The case was finally declared fraudulent in May 2025, after slipping into the NPA category in July 2023.",
  "summary": "Mumbai: The Economic Offences Branch of CBI Mumbai has launched an investigation against a partnership firm engaged in real estate business, its partners and the then SBI chief manager for allegedly cheating State Bank of India (SBI) to the tune of over Rs 32 crores. The borrowers had approached the bank for sanction of working capital for construction and development of high-end independent…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}