CBI searches at 4 locations in Chennai in bank fraud case

The Central Bureau of Investigation (CBI) on Thursday said that it has carried out searches at four premises of Halmark Infrastructure Pvt Ltd in Chennai in connection with a Rs 12.5 crore bank fraud case.

A CBI spokesperson here said that a case was registered against Chennai-based Halmark Infrastructure Pvt Ltd, its MD Anand Jain, other directors, and unknown public servants or private persons on a complaint from the Bank of India.

It was alleged that the accused entered into a conspiracy with each other and cheated Bank of India in availing term loan and OD facilities for infrastructure facilities such as residential flats and commercial complex against properties, but the funds sanctioned were diverted and utilised for other purposes.

“The account became NPA and caused an alleged loss to the tune of Rs 12.52 crore to Bank of India,” he added.