CBI raids 50 places over bank loan fraud

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New Delhi, July 2 (IANS) In a major crackdown against bank loan defaulters, the Central Bureau of Investigation (CBI) on Tuesday searched more than 50 locations in 12 states and Union Territories.

A CBI official said several teams carried out the raids in 18 cities including the residences and business premises of companies, promoters, directors and bank officials for an amount amounting to Rs 640 crore.

The places where the raids took place include Delhi, Chandigarh, Mumbai, Thane, Pune, Valsad, Surat, Ludhiana, Gurugram, Gaya, Palani in Tamil Nadu, Bhopal and Kolar in Karnataka.

–IANS

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