CBI investigates 93 crore rupee bank fraud by Mumbai company

The Central Bureau of Investigation (CBI) has registered a case against Mumbai-based Hanjer Biotech Energies Private Limited regarding a bank fraud amounting to approximately 93.44 crore rupees. The investigation follows a complaint filed on September 30 by the Punjab National Bank (PNB), SAM branch in Mumbai.

The case involves allegations of criminal conspiracy and offenses under the Prevention of Corruption Act against the company, its directors, guarantors, and unidentified government employees and private individuals. It is alleged that the accused conspired to secure a term loan of 135 crore rupees using related-party invoices, then diverted the funds for unauthorized purposes, resulting in a loss of 93.44 crore rupees to the bank.

During recent raids at various locations linked to the company's directors, the CBI seized essential banking and property documents. The investigation is ongoing to determine the full extent of the conspiracy and the final destination of the diverted loan funds.