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The CBI has registered a ₹19.30 crore loan fraud case against Nataraj Rice Mills Private Limited and eight other accused.
What Led to the CBI Case?
The Central Bureau of Investigation registered the case on November 3, 2026, following a complaint from Bank of India’s Ranchi Zonal Office. The complaint was submitted by Aseem Kumar, Deputy Zonal Manager in the bank’s Recovery Department.
The allegations concern credit facilities sanctioned to Nataraj Rice Mills Private Limited, a company engaged in rice milling. According to the complaint, the company allegedly diverted borrowed funds instead of using them for their approved purposes, resulting in substantial outstanding dues.
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How Much Money Was Sanctioned?
Bank of India sanctioned credit facilities totalling ₹20.43 crore to the company between 2013 and 2025. These included a cash credit limit of ₹17 crore and a working capital term loan of ₹3.43 crore.
The bank alleged that the company failed to utilise the funds for their intended business purposes. The loan account was classified as a non-performing asset (NPA) on June 24, 2025, when the outstanding amount stood at ₹19.30 crore.
Who Has Been Named as Accused?
The CBI has named nine accused, including Nataraj Rice Mills Private Limited and five former directors: Vivek Kumar Banka, Neelu Banka, Neeraj Kumar Banka, Sandeep Kumar and Ritesh Kumar Binjrajka.
Three other companies have also been named: Delight Investment Consultants Private Limited, Laxmi Dealmark Private Limited and Tirupati Stock Consultants Private Limited. The complaint additionally refers to unidentified public servants and other individuals suspected of possible involvement in the alleged fraud.
What Will the CBI Investigate?
The CBI’s Economic Offences Branch in Kolkata has registered the case and will examine the alleged diversion of loan funds. Investigators will also scrutinise the roles of the borrowing company, its former directors and the other entities named in the complaint.
The investigation will focus on the financial transactions and the circumstances surrounding the utilisation of the sanctioned credit facilities. The allegations remain subject to investigation, and registration of the case does not establish the guilt of any accused.
