The Central Bureau of Investigation (CBI) on Tuesday said that it registered a case against Haryana-based Richa Industries Ltd and its directors for cheating Indian Overseas Bank to the tune of Rs 236.7 crore and carried out searches at 14 locations.
A CBI official said that the agency carried out searches at 14 locations at the office and residential premises of the accused including Richa Industries, and seized several incriminating documents.
The CBI case is based on a complaint from Indian Overseas Bank against Richa Industries and others including its directors, and unknown public servants for causing an alleged loss of Rs 236.74 crore.
The official said that it was alleged in the complaint that the accused had cheated the bank byways of diversion of bank funds, submission of fabricated documents, criminal misappropriation, cheating, etc.
