The CBI has registered an FIR and conducts related investigative actions in connection with an alleged fraud involving a Canara Bank loan valued at about ₹212.34 crore. The case names IL&FS Energy Development Company Limited and several of its top directors as accused, along with “unknown” public servants and private individuals. The FIR is linked to a complaint filed by Canara Bank’s circle office in Bandra (East), Mumbai, and the case was registered on October 21.
According to reporting, the alleged matter centers on loans the company is said to have obtained, including a term loan of ₹100 crore from the bank’s Large Corporate Branch in Mumbai and an additional USD 50 million from Canara Bank’s London branch (via the erstwhile Syndicate Bank, later merged). Outlets also report that the CBI searches premises connected to the named directors in multiple locations and seized documents related to bank transactions, investments, properties, and the company’s financial records. The allegations include criminal conspiracy and cheating, and offences under the Prevention of Corruption Act. Investigators say they are working to determine the full scope of the alleged conspiracy and diversion of funds.
