On a complaint filed by PNB, the CBI has registered a case against a private company (borrower), its MD, Directors, and unknown public servants for cheating the bank and making it lose ₹252.61 crores.
The CBI also searched three locations premises of the company in Delhi.
According to a press statement issued by the CBI, the loan account of the borrower was classified as NPA on 30.06.2016 by Central Statuary Auditor w.e.f. 26.12.2013.
The complainant, PNB, informed the agency that the fraud was detected on 18.06.2016 and reported to RBI on 15.08.2019.
The private firm, incorporated in 1989, is said to have been started as an onshore service provider to Oil & Gas industry in India.