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Bank fraud: CBI carries out searches at premises of Ratul Puri, others

The Central Bureau of Investigation started its search operation at the premises of Puri and other accused directors in seven locations.

Published: 26th June 2020 07:33 PM  |   Last Updated: 26th June 2020 07:33 PM   |  A+A-

Madhya Pradesh CM Kamal Nath's nephew Ratul Puri leaves Enforcement Directorate office after being arrested in connection with a Rs 354 crore bank loan fraud case in New Delhi.

Madhya Pradesh CM Kamal Nath's nephew Ratul Puri. (Photo | EPS)

By PTI

NEW DELHI: The CBI on Friday carried out searches in seven locations, including the premises of former Madhya Pradesh Chief Minister Kamal Nath's nephew Ratul Puri, in connection with an alleged bank fraud of Rs 787 crore involving Moser Baer Solar Ltd., officials said.

The action came after the CBI registered a case on a complaint from Punjab National Bank against Moser Baer Solar Ltd.

and its directors and guarantors, including Puri, his father Deepak Puri and others.

"It was alleged that the said accused had cheated the Punjab National Bank-led consortium comprising PNB (lead bank), SBI, Exim Bank, Indian Overseas Bank, Central Bank of India, Union Bank of India, and Bank of Baroda to the tune of Rs 787.25  crore(approx) by way of diversion of bank funds, sham transactions and inflated security deposits, etc.," CBI spokesperson R K Gaur said.

The Central Bureau of Investigation (CBI) started its search operation at the premises of Puri and other accused directors in seven locations in Delhi, Noida, Ghaziabad and Annupur (Madhya Pradesh), they said.

It was a "search with a difference" as the CBI officials wore personal protective equipment in view of the coronavirus pandemic braving hot and humid weather to complete the legal process, they said.

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