CBI Raids Multiple Kolkata Sites in Probe of Alleged ₹1,000-Crore Bank Fraud

Overview

• Search teams are examining the offices and residences of the promoters of a Kolkata-based finance company, with key locations in Alipore.
• Investigators say the suspected diversion of funds occurred between 2014 and 2020 after loans were sanctioned by a public sector lender.
• The bank’s complaint cites initial advances of ₹730.82 crore to one company and ₹260.20 crore to an associate firm, followed by additional sanctions.
• A preliminary CBI inquiry alleges the firms also borrowed several thousand crores from at least six other banks with significant non-repayment.
• Operations remain underway at several sites with additional central forces deployed, and no detentions or arrests have been reported.