HYDERABAD: A team of CBI officials from Bengaluru carried out searches at the offices and residences of a real estate and automobile businessman and his relatives, who are the directors in his firms, at Chanchalguda on Saturday. Agency sources said that the businessman, identified as Aijaz Khan, reportedly took a loan from the Union Bank of India and failed to repay it. The CBI registered a case following a complaint given by the bank.
The CBI sleuths reportedly seized files, Income Tax returns, account books and several documents during the searches. The sources said that the agency officials recorded Aijaz Khan’s statement in connection with the loan default and diversion of funds to his real estate business. The officials also questioned the directors in Aijaz Khan’s company before leaving for Bengaluru in the evening.