New Delhi. The Central Bureau of Investigation (CBI) has conducted extensive search operations across multiple locations in Maharashtra and Gujarat in connection with two bank fraud cases involving more than ₹231 crore. The action follows separate complaints filed by the State Bank of India (SBI) and Canara Bank.
The first case was registered on the basis of a complaint filed by State Bank of India, Mumbai, against R L Jewels Limited, its directors, and unknown public servants. The complaint alleges offences including criminal conspiracy, cheating, misappropriation of property, and forgery. The CBI is currently investigating these allegations.
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The second case was registered following a complaint by Canara Bank against Ashapura Garments Limited, its directors, and an unknown private individual. According to investigators, the accused allegedly diverted bank credit facilities that had been sanctioned for textile business operations into non-industrial transactions, resulting in the alleged misuse of bank funds.
As part of the investigation, the CBI simultaneously carried out searches at multiple premises across Maharashtra and Gujarat. The agency said that several incriminating documents and digital evidence were recovered during the raids.
Officials stated that the seized material includes records relating to the alleged diversion of funds, financial transactions, and other documents considered relevant to the ongoing investigation. The recovered digital evidence is also being examined to trace the movement of funds and establish the full extent of the alleged irregularities.
The CBI is now scrutinising banking records, financial documents, digital data, and other evidence to determine the role of all individuals involved and to establish the nature and scope of the alleged bank frauds.
The agency said that investigations in both cases are continuing, and further legal action will be taken based on the evidence collected. The allegations remain under investigation, and any determination of criminal liability will depend on the outcome of the investigation and subsequent judicial proceedings.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
