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CBI raids Bhushan Steel and Power's premises in Rs 2,348 crore bank fraud case

The CBI carried out multi-city searches on Saturday at the premises of Bhushan Steel and Power Limited after registering a case of alleged cheating amounting to Rs 2,348 crore against the company. The searches were carried out at multiple locations, including the Delhi-NCR, Chandigarh and Kolkata at the office and residential premises of the company, its directors and promoters and their associates. The directors of the company allegedly diverted huge amount of bank funds using their companies and shell companies. The company also deliberately defaulted in repayment.

Read More at CNBC TV18 News date : 8 Apr 2019, Monday

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