CBI raids at 15 locations in 4 UP districts

LUCKNOW: Central Bureau of Investigation (CBI) on Tuesday conducted raids in connection with bank fraud cases at 169 places, including 15 spots in Kanpur, Ghaziabad, Varanasi and Chandauli.
CBI has registered 42 cases related to bank frauds involving more than Rs 7,000 crore in 34 cities across India. In Varanasi, CBI searched the premises of chairman and directors of a private company and a few bank officials.The residences were searched following allegations of submission of wrong stock statement and balance sheet by a company to avail loan of Rs 518 crore from a public sector bank. The same company also defrauded another PSU bank of Rs 517 crore. A CBI official said the company was involved in a fraud of more than Rs 1,000 crore. Premises of 2 company directors in Chandauli were also searched.
In Kanpur, premises of two bank employees were searched. In Ghaziabad, residences of directors and promoters of a Delhi-based firm were searched. Raids were on till reports last came in.