New Delhi, Aug 12
The CBI on Tuesday conducted searches at six locations in Tamil Nadu in connection with a Rs 120 crore bank fraud and seized incriminating documents and digital evidence linked to a sugar company and its two associate companies.
The searches were carried out at six locations, including Tenkasi, Chennai, and Tiruchirapalli, as part of an investigation into a case registered on the complaint of the Indian Overseas Bank, Chennai.
The premises searched on Tuesday included residential properties linked to the accused company’s directors and officers, as well as business establishments that had conducted suspicious transactions with the accused company.
The bank identified the Kanchipuram-based company as Padmaadevi Sugars Limited
The complainant bank reported large cash transactions by the three companies during the note ban, raising suspicion about illegal operations by them using loans taken from it.
The case was registered at CBI, Bank Security and Fraud Bureau, Bengaluru Branch, on the directions of the Madras High Court.