Overview
- CBI teams searched eight locations in Kolkata on Wednesday and seized incriminating documents linked to three separate cases against Tantia Construction, Brahm Alloys and Amrit Feeds.
- The agency says the combined alleged loss to Punjab National Bank is ₹191 crore, with Tantia accused of ₹73 crore, Brahm Alloys ₹58 crore and Amrit Feeds ₹60 crore.
- Investigators allege the borrowers diverted bank credit through routes such as financing subsidiaries, routing money via non-standard or other-bank current accounts, investing in group concerns and manipulating books.
- The seized material is being forensically examined and the CBI says further legal steps will follow depending on what the documents show.
- The cases highlight lender exposure to related-party dealings and weak governance in corporate lending, and authorities will be watched for any charge sheets, asset attachments or recovery actions that affect PNB and the companies’ directors.