PNB fraud: CBI conducts searches in three cities against IL&FS Energy Development Company Limited
New Delhi, Jun 23 (PTI) The CBI conducted searches in three cities after registering an FIR against IL&FS Energy Development Company Limited in connection with an alleged fraud of Rs 100.30 crore in Punjab National Bank, officials said on Friday.
The Central Bureau of Investigation (CBI) has booked the company and its directors for alleged criminal conspiracy, cheating and under provisions of the Prevention of Corruption Act for diversion of funds and other irregularities in the utilisation of loans availed from the bank.
"The CBI has conducted searches at office and residential premises of accused including the private company at New Delhi, Dehradun (Uttarakhand) and Mumbai (Maharashtra), etc. which led to recovery of incriminating documents/articles etc.," a CBI spokesperson said.
